Posted on: 1 February 2022
Law firm Stephenson Harwood LLP has strengthened its international trade practice with the addition of commodities trade finance specialist Philip Prowse, who joins as a partner, based in the firm’s London office.
Prowse has acted for a wide range of entities across the global commodities supply chain. Clients include lenders, borrowers, suppliers, producers, processors, distributors, insurers, logistics operators and end-users. His experience covers the full spectrum of trade finance arrangements, including syndicated secured debt facilities, bilateral/regional (uncommitted) facilities, pre-export and post production/prepayment structures, tolling transactions, borrowing base financings and debt capital markets offerings for investment into the trade finance asset class. He also advises on the increasing digitisation of trade and trade finance systems, practices, and instruments, including in relation to the use of blockchain systems. His work has international reach, and he has particular experience advising in relation to the emerging markets. He joins the firm from HFW.
“Transportation and trade is one of the key areas of focus for our new strategy, and commodities is naturally a core part of that. As we continue to develop the practice – building on the recent hires of partners Jameel Tarmohamed and Emma Skakle – this appointment marks a further step in our ambition to create a ‘one-stop-shop’ for our commodities clients,” said Alex Davis, head of international trade, Stephenson Harwood.
“We’re known already for the strength of our contentious commodities work; we’re now focusing on developing our commodities non-contentious and finance expertise, so that we can advise clients through the full life-cycle of their work. Philip and Jameel will lead our capabilities in this area, supported by a team of dedicated commodities and trade finance specialists. Trade finance is an area where Stephenson Harwood has an established expertise, most notably in London with consultant Elisabeth Gaunt and senior associate Bertie Chilton, and partners KT Fung and Mark Reed in our Hong Kong office; the addition of the specialist commodities finance team will add a further string to our bow, and allow us to really deepen our offering to clients, also giving them access to our award-winning general finance practice. Given the consolidation of legal services over recent years, this is the time to realign our practice so that we can offer clients a complete, bespoke service – focused on an industry sector, rather than a legal discipline.”
The Stephenson Harwood international trade practice offers services to clients in the shipping, insurance, offshore and commodity sectors. Clients include many of the world’s largest shipowners, shipyards, major ship finance banks, marine insurers and IG P&I clubs, energy services companies, oil and gas companies and commodities traders.
