Robert L. Tortoriello’s practice focused on domestic and foreign bank expansion into all types of nonbank services and securities-related businesses, and on cross-border transactions and initiatives.

His work included extensive counseling with respect to bank capital markets activities, regulatory and compliance issues, internal investigation and enforcement matters, financial institution mergers, acquisitions, joint ventures, strategic alliances and restructurings, private equity and derivative product transactions, and domestic and international securities offerings.

Robert counseled major financial institutions with respect to congressional inquiries related to a range of banking practices, and with respect to administrative, regulatory and related enforcement proceedings and investigations by the banking regulators, the Financial Crimes Enforcement Network (FinCEN), the Office of Foreign Assets Control (OFAC), and federal and state enforcement agencies regarding compliance with anti-money laundering requirements, U.S. sanctions programs and other U.S. banking laws.

Robert joined the firm in 1974, was a partner from 1982 through 2015 and became senior counsel in 2016.

He lectures and is widely published on bank-related legal and regulatory developments and he is the author of numerous publications, as set forth below.

Robert was selected as a member of the New York City Financial Services Advisory Committee, created to monitor and discuss developments within the financial services industry and track the ongoing value and effectiveness of initiatives to promote the support and growth of New York’s financial services sector. He also served two terms on the Banking Law Committee of the Association of the Bar of the City of New York.

Robert is currently an adjunct professor of political science at Columbia University, teaching American Constitutional History.

Notable Experience

Global Financial Institutions

  • Bank of America, Credit Suisse, HSBC, JPMorgan Chase and other institutions with respect to their private equity/hedge fund and asset management investment operations.

  • Bank of America Merrill Lynch, BNP Paribas, Credit Suisse and others in the expansion and conduct of energy-, electricity-, emission- and commodity-related derivatives, trading energy/asset management, subchartering and related activities.

  • Barclays Bank, Citibank, Credit Suisse, HSBC, Natixis and others with respect to equity-linked and other structured deposit and note offerings.

  • ABN AMRO, BBVA, BNP Paribas, Commerzbank, ING, Wells Fargo and others in connection with the organization, expansion and operation of their capital markets activities in the United States.

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Acquisitions, Divestitures, Joint Ventures, Strategic Alliances and Restructurings

  • Bank of America in numerous domestic and foreign, banking and non-banking, acquisition and disposition transactions (including those involving Ameriprise/Columbia Management, Banco Itau, BlackRock, China Construction Bank and Merrill Lynch).

  • Coordination of “shelf charter”, “non-bank bank” and private equity-related initiatives relating to the infusion of new capital into the U.S. banking system.

  • Credit Suisse in its investment in, and distribution arrangements with, York Capital Management.

  • BNP Paribas in its acquisition of control of Fortis Bank (including the coincident investment by the Kingdom of Belgium’s Société Fédérale de Participations et d’Investissements (SFPI) in BNP Paribas) and the reorganization and restructuring of Fortis Bank’s U.S. operations.

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Additional Experience

  • Global and regional financial institutions with respect to the Dodd-Frank Act (including the Volcker Rule), the Gramm-Leach-Bliley Act, the Bank Holding Company Act, the Glass-Steagall Act, the International Banking Act and domestic and international capital and liquidity requirements, including in the context of matters involving the Federal Reserve Board, the Office of the Comptroller of the Currency and other federal and state banking regulators.

  • Domestic and foreign financial institutions in their internal investigations, as well as in administrative, regulatory and related enforcement proceedings.

  • Major financial institutions with respect to congressional inquiries related to a range of banking practices, and with respect to non-public regulatory investigations by the banking regulators, the Financial Crimes Enforcement Network (FinCEN), the Office of Foreign Assets Control (OFAC) and federal and state enforcement agencies regarding compliance with anti-money laundering requirements, U.S. sanctions programs, and other U.S. banking laws.

  • BNP Paribas, HSBC and others with respect to the implications of various banking-related exposures (as principal, lender, investor, derivatives counterparty, custodian and private banker) in connection with the Bernard Madoff “Ponzi scheme” and the bankruptcy of Bernard L. Madoff Investment Securities (BLMIS).

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Selected Activities

  • Member (past), New York City Financial Services Advisory Committee
  • Member (past), Banking Law Committee, Association of the Bar of the City of New York
  • Trustee, St. Peter’s University, 2014-present
  • Trustee/Advisory Trustee, The Montclair Kimberley Academy, 2000-present
  • Trustee, Montclair Art Museum, 2015-present; Vice President, Montclair Art Museum, 2016-present
  • Finance Council, St. Cassian’s Roman Catholic Church, 2015-present
  • Trustee (past), Township of Montclair (NJ) Adult School

Publications

“Guide to Bank Underwriting, Dealing and Brokerage Activities”
West Publications, 2016, 2015, 2014, 2013, 2012, 2011, 2010, 2009, 2008, 2007, 2006, 2005, 2004, 2003, 2002, 2001, 2000, 1999, 1998, 1997

“Operational Risk Management in Global Banking Organisations - A Legal and Compliance Perspective” 
The International Who’s Who of Banking Lawyers, 2008

“FERC (Federal Energy Regulatory Commission) Regulation of Banks Proposing to Qualify as Power Marketers”
Banking Report, 2007

“Banks’ Securities Activities in the U.S.”
The IFLR Banking Guide, 2006

“The Federal Reserve Board’s Proposed Interpretation of the Anti-tying Provisions of the Bank Holding Company Act Amendments of 1970”
Banking Law Journal, 2003

“Financial Modernization in the United States: the Gramm-Leach-Bliley Act”
Journal of International Financial Markets, 2000

“Basel Proposal for a New Capital Adequacy Framework”
Banking Policy Report, 2000

“Selected Current Issues Affecting Bank and Bank Holding Company Underwriting, Dealing and Brokerage Activities”
Prentice Hall Law & Business Inc., 1996, 1995, 1994, 1993, 1992, 1991

“Bank Mutual Fund Sales - Some Pitfalls and Concerns”
Insights, 1994

“Bank Loan Sale Activities: Selected Banking and Securities Law Considerations”
The Trading and Securitization of Senior Bank Loans (Probus Publishing Co.), 1992

“Bank Loan Sale Transactions”
Insights, October 1991

“Foreign Bank Acquisitions of U.S. Banking Institutions”
Regulation of Foreign Banks (Butterworth Legal Publishers), 1991

“Recent Developments in Banks Securities-Related Services: Implications for Corporate Customers”
Insights, January 1990

“Glass-Steagall Act: Current Issues Affecting Bank Underwriting, Dealing and Brokerage Activities”
Prentice Hall Law & Business, Inc., 1990, 1989, 1988, 1987, 1986, 1985

“Structuring a Friendly Bank Acquisition: Corporate, Securities and Related Considerations”
Practicing Law Institute, 1989, 1988, 1986, 1984, 1983

“Legal Considerations Affecting Foreign Bank Acquisitions of United States Banks”
University of Illinois Law Review, 1988

“Nonbank Banks and CEBA”
Banking Expansion Reporter, October 1987

“Federal Reserve Board Expansion of Bank Securities Powers: Glacial Change”
Banking Expansion Reporter, June 1987

“Glass-Steagall Act: Current Issues”
The Review of Financial Services Regulation, January 1987

“Legal Considerations Affecting Foreign Bank Acquisitions of United States Banks”
The University of Connecticut Journal of International Law, 1985-86

Events

Robert has lectured on judicial, statutory, regulatory, administrative and historical developments before the Association of the Bar of the City of New York, the Federal Deposit Insurance Corporation (FDIC), the Financial Markets Association (FMA), the Institute of International Bankers (IIB), the New York City Financial Services Advisory Committee, the New York County Lawyers Association, the Practicing Law Institute, and the Securities Industry and Financial Markets Association (SIFMA).