Biography
Having previously been a tax partner in the firm for many years, Andrew Norwood is a financial taxation consultant specialising in the United Kingdom tax treatment of securitisations and who advises regularly on transactions involving diverse asset classes and on numerous high profile banking and leveraged finance deals. He has over twenty years’ experience in all financial taxation matters acting for banks, CLO managers, originators and borrowers and has been involved in the structuring of complex securitisations almost since the inception of the market in the late 1980's.
Andrew is widely recognised and experienced in his field and is a frequent lecturer on financial tax subjects. He is ranked as a leading individual in UK taxation by Chambers Global and Chambers UK, where he has been described as having “a legendary ability to communicate” and is praised for “the breadth and depth of his knowledge” of securitisation and structured finance transactions.
Andrew’s UK tax representations include:
- The Carlyle Group investment manager CELF Advisors on its Carlyle Global Market Strategies Euro CLO 2013-2 and Carlyle Global Market Strategies Euro CLO 2014-1 transactions
- Shop Direct on the £1.35 billion Littlewoods catalogue receivables programme, the first publicly rated home shopping receivables securitisation
- A major financial institution as arranger and dealers' counsel on the establishment of the financial institution’s credit card master trust securitisation programme and all issuances thereunder. Dealers advised in addition to the financial institution include Citi, J.P. Morgan, and Lloyds Banking Group
- Zenith (a portfolio company of Hg Capital) in the establishment and refinancing of an innovative vehicle lease and residual value funding structure
- A major financial institution as lead manager, and RBC Capital Markets and the Toronto-Dominion Bank, as co-managers, in $600 million and £67 million (total $707 million) securitized debt offers by Gracechurch Card Programme Funding, backed by receivables on consumer credit and charge card accounts originated or acquired in the UK by Barclays acting through its Barclaycard division
- Deutsche Bank and J.P. Morgan amongst others as underwriters’ counsel on the Gemgarto 2012-1 standalone RMBS transaction for Investec Bank plc
- Spire Partners LLP as investment manager to its Aurium CLO I Limited European CLO transaction