New York: Leading international law firm Clifford Chance announced today the hiring of experienced bank regulatory attorney Young Kim as counsel in its US Financial Services Regulatory Group. Kim will primarily advise clients on fintech, digital assets and payment services regulations.
Kim brings more than 10 years of experience in the financial services sector. As US bank regulatory counsel at two global banking firms, Kim has advised on payments technologies and systems (including money transmitter/MSB regulations, FBO structures and fintech/payments partnerships), digital assets (including cryptocurrency, stablecoins and tokenized deposits, and new use cases for digital assets and blockchain), and bank holding company regulations (including US enhanced prudential standards, LCR and NSFR requirements, and the Volcker Rule). His work has involved frequent engagement with the Federal Reserve Board, the Federal Deposit Insurance Corporation, the Consumer Financial Protection Bureau, and New York State Department of Financial Services.
Kim’s hiring reflects the firm’s strategic plan to expand its fintech, digital assets and payment services regulatory offerings to meet growing demand in the United States and globally.
Jeff Berman, partner and head of Clifford Chance’s US Financial Services Regulatory Group, says, “Young deepens our US bank regulatory bench. He especially strengthens our fintech offering across the product spectrum, from payment platforms to cryptocurrency. We’re confident Young will significantly enhance our ability to help clients address the rapidly changing regulatory environment in the fintech and digital assets space.”
Partner Steven Gatti, who leads the firm’s fintech practice in the Americas, adds, “The institutional adoption of digital asset strategies continues, as well as blockchain technology being embedded into all aspects of financial services, and with that the necessity to offer these products and services within the existing and developing financial regulatory framework. Expanding and enhancing our US and global fintech and financial regulatory practice to serve our clients mirrors these evolving market dynamics.”
Clifford Chance is pursuing an ambitious growth strategy in the US. Since the beginning of 2022, the firm has hired four partners: life sciences and healthcare antitrust partner Leigh Oliver, renewable energy, project finance and tax partner Alexander Leff, and funds and investment management partners William Sturman and Kelly Labritz; and in February Leah Feldman joined as counsel in structured finance.
Kim, who joins from Goldman Sachs, says, “As fintech and other nonbank entrants further encroach upon the services of incumbent banks, the regulatory landscape for such providers is rapidly shifting. Fintech can only expect more scrutiny and regulation as the market matures and evolves, particularly in the digital assets space. I’m excited to bring a new perspective to the Clifford Chance team and share my insights with a wider audience, and access their impressive global platform.”
