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

• 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