Christian F. McDermott

  • Partner
  • Echristian.mcdermott@lw.com
  • 99 Bishopsgate
  • London EC2M 3XF
  • United Kingdom
  • T +44.20.7710.1198
  •  
 

Profile

Christian McDermott, an experienced technology lawyer, advises clients on large-scale technology contracts, commercial collaborations, as well as fintech and payments transactions.

Mr. McDermott advises global and UK-based clients — including major financial institutions as well as publicly listed, private, and emerging companies — on the development, use, and commercialization of technology, in particular:

  • Large-scale technology and outsourcing projects
  • Complex commercial collaborations
  • Fintech contracts
  • Established and emerging payments technologies
  • Licensing and distribution arrangements
  • Diligence on technology and fintech M&A and IPOs
  • Transitional services arrangements
  • General commercial law and intellectual property matters

Mr. McDermott draws on more than a decade of experience with technology and fintech matters. He has a keen sense of what is at market, utilizes effective collaboration strategies, and has developed a reputation as a skilled negotiator who knows how to get deals done.

Accolades

  • Ranked – Next Generation Partner for IT and Telecoms
    The Legal 500 UK 2021-2022   
  • Named a Key Lawyer for Fintech
    The Legal 500 UK 2021-2022   
  • Named a Key Lawyer for Venture Capital
    The Legal 500 UK 2021
  • Ranked - Next Generation Lawyer for Commercial Contracts
    The Legal 500 UK 2017

Experience

Mr. McDermott’s representative transactions include advising:

Outsourcing and Technology

  • A global retail and investment bank on the multi-billion Euro global outsourcing of its investment banking IT infrastructure
  • A leading UK insurer on both: the outsourcing of policy administration activities; and the outsourcing of certain IT and business processes
  • A global UK-headquartered retail and investment bank on the top-down renegotiation of its relationship with its biggest IT supplier, comprising individual hardware, software, and services streams
  • A European financial services provider on the formation of a joint venture with a leading US telecoms company, including the drafting and negotiation of various associated business and outsourcing arrangements, as well as the launch of a co-branded credit card
  • A global media company, negotiating framework services agreements with the client’s three main offshore service providers

Fintech and Payments

  • Goldman Sachs on the development of Marcus Invest, its UK Retail Investment Platform
  • Square in its acquisition of Verse Technologies, a Spain-based mobile payments application company
  • Thomas Cook Group plc on the payments-related aspects of its attempted rescue, in particular the renegotiation of arrangements with its three largest payment service providers
  • Interswitch on its strategic partnership with Visa, which made Interswitch one of the most valuable African FinTech businesses with a valuation of US$1 billion
  • A nation state on the development of a new domestic and international payments system, including the drafting the various underlying commercial contracts
  • CVC and Blackstone in connection with the £2.96 billion acquisition by a consortium comprised of Blackstone and CVC Capital, of Paysafe Group, a UK-based online payment solutions company
  • The underwriting banks on the US$2.4 billion IPO of Nets — Scandinavia’s largest payments processor  

Thought Leadership

  • Rising Regulation of Fintech Innovation — Implications for PE Investments  -  May 04, 2022
  • CNIL Publishes White Paper on Digital Payments and Data Privacy -  November 09, 2021
  • Non-Fungible Tokens (NFT) Resources -  September 28, 2021
  • NFTs 101: The Basics of Non-Fungible Tokens, and Beyond -  July 19, 2021
  • EDPB Issues New Guidance on Storing Credit Card Data for Future Purchases -  July 07, 2021
  • Consent Under PSD2 and the GDPR: Squaring the Circle -  March 26, 2021
  • NFTs: A Beginner’s Guide to Understanding the Hottest Crypto Craze -  March 19, 2021
  • Pay.UK Releases Paper on Protections in Consumer-to-Business Payments -  December 21, 2020
  • Privacy and Payments: New Draft EU Advice for Financial Institutions  -  November 04, 2020
  • FSB Launches Consultation on Global Stablecoins -  April 29, 2020
  • Accounting for COVID-19 and Future Pandemics When Procuring IT Services – 5 Steps for Success  -  April 22, 2020
  • Competition and Innovation in the UK’s New Payments Architecture -  March 16, 2020
  • Podcast: Macro and Regulatory Developments Impacting Stablecoins  -  November 22, 2019
  • Trends in Outsourcing Regulation and Supervision in Financial Services -  October 21, 2019
  • Bank of England Seeks Further Feedback on Migration to Standard Payments Messaging -  October 10, 2019
  • PSD2 & Brexit: EU Card Issuers Must Apply SCA to UK Website Purchases Post-Brexit -  October 02, 2019
  • Readiness for PSD2: APIs Fall Short, but More Time for SCA -  August 23, 2019
  • SCA: Storm Clouds Approaching? -  June 18, 2019
  • Regulators Get Tough on Regulatory Outsourcing Failings -  June 06, 2019
  • FCA Outlines Key Deadlines for PSD2 Compliance -  May 10, 2019
  • Payment Systems Regulator Finalizes Scope of Card Acquiring Market Review  -  February 01, 2019
  • GDPR & PSD2: Squaring the Circle  -  August 13, 2018
  • Payment Systems Regulator to Review Card Acquiring Market on Competition Concerns -  August 01, 2018
  • FCA Supports Guidelines on the Open Banking Fall-Back Provisions Exemption -  July 02, 2018
  • Poised for Next Payments Boom -  April 26, 2018
  • The Race Toward PSD2 Implementation Intensifies -  January 15, 2018
  • Bank of England Opens Up Access to Payment Schemes for FinTech Firms  -  July 25, 2017
  • FCA Regulatory Sandbox Update: Successes in Round One, Application Window for Round Three Open  -  June 16, 2017
  • Banking on IT -  May 26, 2017
  • European Parliament’s Committee on Economic and Monetary Affairs Publishes Fintech Report -  May 14, 2017
  • Understanding PSD2 - Key Points to Know About the Upcoming Regime -  April 26, 2017
  • Senior MP Calls for Regulatory Crackdown on Banks’ IT Systems: 3 Things You Can do to Prepare -  December 06, 2016
Next Generation Partner – IT and TelecomsThe Legal 500 UK 2021
Bar Qualification
  • England and Wales (Solicitor)
  • Scotland (Solicitor)
Education
  • QLTT, College of Law, London, 2010
  • Master of Laws, Cambridge University, 2007
  • Diploma in Legal Practice, University of Edinburgh, 2006
  • Bachelor of Laws, University of Edinburgh, 2005
    First Class Honours
Industries
  • Entertainment, Sports & Media
  • Fintech
  • Technology
  • Hospitality, Gaming & Leisure
Practices
  • Technology Transactions
  • Payments & Emerging Financial Services
  • Connectivity, Privacy & Information
  • Communications Law
  • Mergers & Acquisitions
  • Emerging Companies
  • Private Equity
  • Outsourcing
  • Financial Regulatory