Morae Global Corporation, a leading provider of transformative legal and compliance solutions for corporations and law firms, and Mayer Brown, a global law firm with uniquely integrated service across the world’s three largest financial centers—New York, London and Hong Kong, today announced a collaborative end-to-end IBOR solution to assist clients as they embark on transitioning from the London Inter-bank Offered Rate (LIBOR) and other interbank offered rates (IBORs) to alternative risk-free reference rates (RFRs).
The IBOR solution will more effectively serve the legal needs of clients during the phase-out of LIBOR by bringing together Mayer Brown’s global presence, market-leading knowledge of subject matter and product competence across various sectors of the financial industry, with Morae’s data analytics and remediation, technology enablement, repapering and program management capabilities. Already widely respected for its integrated and global IBOR transition solutions, Mayer Brown is teaming up with Morae for the company’s LIBOR Transition services and expertise in the application of advanced, highly efficient, technology-enabled workflows and analytics.
“We are working to create a ‘one-stop shop’ for our clients preparing for the discontinuation of LIBOR, and joining forces with Morae is confirmation of Mayer Brown’s sustained efforts to deliver full-service excellence,” said J. Paul Forrester, Mayer Brown partner and IBOR Transition Leader. “Our recently launched cross-practice IBOR Transition Task Force is another great example of the firm’s ongoing commitment to advise banks, companies and investors on the full spectrum of market developments relating to LIBOR transition.”
Joy Saphla, President of Strategic Solutions at Morae, added, “By bringing together Morae’s extensive financial services, technical, analytics and program management expertise with Mayer Brown’s domain expertise, we deliver an efficient global solution for LIBOR transition while establishing a framework that transforms how such challenges will be addressed in the future. Clients will benefit from our combined legal, technology, process and data expertise, including Morae’s in-depth experience in the efficient delivery of expedited technology-driven services.”
IBOR has been referred to as “the most important number in the world” and its cessation represents a change that could have a significant impact on the financial services industry. While efforts to identify comparable, liquid and transparent replacement benchmarks are currently underway worldwide, the process is complex and involves a multitude of regulators and trade organizations across dozens of countries and currencies. Notwithstanding the COVID-19 pandemic, there will be an even greater client emphasis on rapid and effective deployment and use of artificial intelligence and other technology-assisted review and repapering tools. Morae and Mayer Brown are ready to help clients with rapid and effective deployments.
Morae specializes in providing expedited LIBOR transition and other legal and compliance solutions, including determining which contracts meet the risk criteria, efficient identification and analysis of the data and documents that matter, document drafting and end-to-end negotiation. Morae’s LIBOR capabilities include:
- Consulting and data strategy for risk assessment, data collection, contract analysis and classification, data remediation and strategy, technology selection, and program management
- Remediation for data preparation and extraction, clause library creation, data integration, and calibration and testing
- Repaper including client outreach, negotiations, and data repository implementation and management
- Reporting and Insights through leveraging artificial intelligence for performance insights and risk identification and assistance in conduct and risk training
Learn more about Morae’s LIBOR transition services at www.moraeglobal.com/libor.
About Mayer Brown
Mayer Brown is a distinctively global law firm, uniquely positioned to advise the world’s leading companies and financial institutions on their most complex deals and disputes. With extensive reach across four continents, we are the only integrated law firm in the world with approximately 200 lawyers in each of the world’s three largest financial centers—New York, London and Hong Kong—the backbone of the global economy. We have deep experience in high-stakes litigation and complex transactions across industry sectors, including our signature strength, the global financial services industry. Our diverse teams of lawyers are recognized by our clients as strategic partners with deep commercial instincts and a commitment to creatively anticipating their needs and delivering excellence in everything we do. Our “one-firm” culture—seamless and integrated across all practices and regions—ensures that our clients receive the best of our knowledge and experience.
About Morae Global Corporation
Morae Global Corporation provides comprehensive legal and compliance solutions to law departments, compliance teams and law firms, including 9 of the top 20 investment banks, asset managers and other financial institutions and extensive experience working with Fortune 100 clients in the life sciences, energy, manufacturing and real estate industries. Morae’s team of experts is comprised of some of the most seasoned and knowledgeable professionals in the legal industry who are trusted to transform legal ecosystems worldwide. Core service lines include information governance and discovery, advisory and alternative legal resourcing, and digital transformation solutions. Morae has offices around the world, including in Abu Dhabi, Bangalore, Chicago, Frankfurt, Hong Kong, Houston, London, Maastricht, New York, Sydney, Washington, D.C., and Zurich. For more information, visit moraeglobal.com and follow us on LinkedIn.
Director, Marketing at Morae Global
Manager, Public Relations at Mayer Brown