David C. Ingles
David Ingles serves as co-head of Skadden’s Financial Institutions Group. He has a diverse corporate practice representing clients on mergers, acquisitions and divestitures, corporate finance transactions and general corporate matters involving financial institutions.

Bio

Mr. Ingles has advised public and private financial institutions in negotiated and contested mergers and acquisitions, proxy contests, joint ventures, spin-offs, equity and debt offerings, and other complex corporate transactions. Mr. Ingles also regularly advises private equity firms and others seeking to invest in financial institutions.

Mr. Ingles has represented clients in a wide variety of financial institutions M&A and corporate financing transactions, including:

  • Vantiv in its $12 billion merger with Worldpay;
  • Citigroup Inc. in the sale of its consumer banking and credit card businesses in Brazil to ItaÚ Unibanco Holding S.A.;
  • Deutsche Bank AG in its:
    • sale of The Cosmopolitan of Las Vegas, a hotel and casino; and
    • sale of Maher Terminals USA, LLC, a marine container terminal facilities business;
  • Springleaf Holdings, Inc. in its $4.25 billion acquisition of OneMain Financial, Inc.;
  • BNP Paribas in the sale of its oil and gas reserve-based lending business in the U.S. and Canada to Wells Fargo;
  • The Blackstone Group in its:
    • acquisition of a controlling equity stake in Stearns Lending LLC, a mortgage lending and servicing business;
    • acquisition of Lendmark Financial Services Inc., a consumer lending business; and
    • acquisition of a controlling equity stake in Exeter Finance, an auto leasing business;
  • WL Ross & Co. LLC in connection with numerous transactions, including:
    • a $50 million equity investment in Amalgamated Bank;
    • as co-lead investor in a $177 million equity capital raise by Cascade Bancorp;
    • as lead investor in a $100 million equity capital raise by Sun Bancorp, Inc.; and
    • as lead investor in a $200 million common equity private placement by First Michigan Bancorp, Inc. in connection with its acquisition of the banking operations of CF Bancorp from the Federal Deposit Insurance Corporation, as receiver;
  • a consortium consisting of WL Ross & Co. LLC, The Blackstone Group, The Carlyle Group, Centerbridge Capital Partners, other investors and a management team led by John Kanas, in their $900 million acquisition of the banking operations of BankUnited, FSB in an auction by the FDIC, as receiver. This deal was named “Private Equity Deal of the Year” 2009 by International Financial Law Review;
  • Ford Financial Fund, L.P. in its $500 million acquisition of a 91 percent equity stake in Pacific Capital Bancorp;
  • American Express Company in the $1.1 billion sale of its global private banking and correspondent banking businesses to Standard Chartered PLC;
  • The Bear Stearns Companies Inc. in its $1.2 billion merger with JPMorgan Chase & Co.;
  • The Bank of N.T. Butterfield & Son Limited, Bermuda’s largest independent bank, in:
  • a $550 million equity investment by funds affiliated with The Carlyle Group, Canadian Imperial Bank of Commerce and other institutional investors; and
  • its exempt offering of $200 million of noncumulative perpetual limited voting preference shares, which were guaranteed by the government of Bermuda;
  • Refco Inc. and its subsidiaries in the $323 million sale of Refco’s global regulated futures brokerage business to Man Financial, Inc. in a bankruptcy auction; and
  • Sumitomo Mitsui Banking Corporation in connection with its provision of $1 billion of first-loss credit protection and up to an additional $1.1 billion of second-loss credit protection to certain affiliates of The Goldman Sachs Group, Inc. in connection with Goldman’s establishment of certain lending operations.

Mr. Ingles regularly represents major investment banking firms as financial advisors on financial institutions M&A transactions. He also advises clients in connection with public disclosure and reporting, corporate governance and compliance matters, takeover preparedness and various other general corporate matters.

Credentials

Education

  • J.D., New York University School of Law, 1993
  • B.A., Loyola University of New Orleans, 1988 (cum laude)

Admissions

  • New York

David C. Ingles

Partner, Financial Institutions; Mergers and Acquisitions
david.ingles@skadden.com