Q1 Overview - DCM, Derivatives and Structured Finance roles in London

Compared to 2025, Q1 2026 was considerably more active in this area with 50% more roles advertised throughout the quarter including 60% more new roles. During the quarter a total of 26 roles advertised across UK international/global, US and City/regional firms. Of these, 10 roles were carried over from Q4 2025, while 16 were new to market in Q1.

The roles spanned derivatives, structured products, securitisation and debt capital markets.  Roles ranged from newly qualified and junior associate positions through to senior associate, managing associate and one PSL role. 

While a number of positions closed during the quarter, 13 remained open going into Q2.

Below are overviews of roles advertised by firms:

Allen & Overy

Allen & Overy advertised a Knowledge Lawyer – Global Financial Markets role in March, which remained open going into Q2. This position supports the firm’s global financial markets practice through know-how development, training and monitoring legal and regulatory developments in debt capital markets. The role is aimed at a technically strong lawyer with transactional experience, commercial awareness and strong organisational skills, with responsibilities including collaboration across global teams, innovation support and the production of high-quality legal resources and thought leadership.

Ashurst

Ashurst carried over two roles from Q4 2025 and also launched a new role in January. An Associate/Senior Associate – Speciality Finance and Private Credit role (5–9 PQE), first advertised in Q4 2025, closed in January and focused on structured finance, asset-backed lending, borrowing base structures, securitisations, mezzanine transactions and other innovative financing arrangements for lenders, sponsors and asset managers.

A Senior Associate – Structured Finance (Securitisation) role (5–10 PQE), also first advertised in Q4 2025, closed in March and centred on complex private and public securitisations, warehouses, mezzanine financings and asset-backed structures across a wide range of asset classes.

In January, the firm also advertised an Associate – Global Markets (Corporate Trusts) role (NQ–5 PQE), which closed in February. That position focused on advising corporate trustees and agents on capital markets transactions, securitisations, restructurings, defaults and syndicated loan structures, with scope for transaction management, documentation negotiation and junior supervision depending on level.

Cleary Gottlieb Steen & Hamilton

Cleary Gottlieb advertised a Derivatives and Structured Finance Associate role (18 months to 4 PQE) in February, which closed in March. The role was aimed at an English law-qualified associate with strong structured finance and derivatives experience, ideally trained at a Magic Circle or comparable international firm. It focused on supporting complex cross-border finance matters, requiring solid transactional experience, strong drafting and analytical skills, and the ability to work collaboratively with senior lawyers and clients.

Clifford Chance

Clifford Chance advertised a Junior-Mid Structured Debt Associate role in January, which closed in February. The position sat within the firm’s Tier 1 securitisation and structured finance practice and involved managing multiple cross-border transactions, including RMBS, CMBS, warehouses, NPLs, covered bonds, trade receivables and other ABS structures. The role required structured debt experience, strong drafting and transaction management skills, commercial client advisory capability, and an interest in business development and mentoring.

CMS Cameron McKenna

CMS advertised a Capital Markets & Derivatives Associate role (NQ–5 PQE) in January, which closed in February. This London-based role involved advising financial institutions and corporates on structured finance, derivatives, securitisations and debt capital markets transactions. The firm sought a lawyer with experience drafting and negotiating derivatives or structured finance documentation, strong technical and drafting ability, and the confidence to build client relationships while working closely with partners on complex cross-border matters.

Dechert

Dechert advertised an Insurance / Structured Finance Associate role (4–6 PQE) in January, which remained open going into Q2. The role focused on structured products work for European and UK insurers, including the documentation and regulation of insured bonds, SRT transactions, rated note feeders and matching-adjustment eligible bonds. The firm sought a lawyer with outstanding technical and interpersonal skills, confidence handling high-value work and a strong interest in relationship-building and business development within this insurance-focused structured finance niche.

Dentons

Dentons carried over an Associate – DCM / Structured Finance & Derivatives role from Q4 2025, which closed in February. This junior role focused on securitised derivatives and synthetic securitisation matters within the wider DCM team, including repackagings, credit-linked notes and SPV-based financings.

In March, the firm also advertised an Associate – DCM, Structured Finance and Derivatives role (NQ–3 PQE), which remained open going into Q2 (but closed mid April). That role was aimed at a junior French-qualified associate to join the London derivatives team, working on OTC and exchange-traded derivatives, repo, securities lending, structured credit and regulatory matters for major financial institutions across multiple asset classes.

DLA Piper

DLA Piper advertised a Finance (Derivatives) Associate/Senior Associate (2–7 PQE) in March, which remained open going into Q2. This position focused on derivatives and structured products, including OTC and securitised derivatives, trading documentation and financial markets regulation. The role also offered exposure to complex cross-border matters involving digital assets, tokenisation, carbon products and structured finance transactions, and required strong drafting, project management, client relationship and mentoring skills.

Eversheds Sutherland

Eversheds Sutherland carried over an Associate/Senior Associate – Structured Finance role (1–6 PQE) from Q4 2025, which closed in January. The role involved advising on a broad range of securitisation and structured lending matters, including public and private securitisations, warehouse lending, forward flow arrangements, portfolio sales and back-leverage transactions. The firm sought a technically strong and adaptable lawyer keen to develop within a growing international finance team.

Fieldfisher

Fieldfisher launched three roles in March, all of which remained open going into Q2. The first was a Senior Associate (Derivatives) role (4+ PQE), focused on drafting and negotiating derivatives documentation, running transactions autonomously and advising across asset classes on products such as loan hedging, deal-contingent and structured repo transactions. The second was an Associate – Structured Finance role (NQ–5 PQE), supporting private securitisations, complex financing arrangements, structured insurance and reinsurance transactions and asset servicing contracts. The third was a Senior Associate – Structured Finance role (5+ PQE), aimed at an experienced lawyer to play a leading role in a growing practice handling private securitisations and other complex cross-border financings, with responsibility for structuring and negotiating documentation, advising on multi-jurisdictional matters and mentoring juniors.

Fox Williams

Fox Williams advertised an Associate – Financial Services role in February, which closed in March. This position supported the firm’s fintech and structured finance team, advising lending platforms, challenger banks and credit funds on both product-side and funding-side matters. The work included structuring and documenting consumer and SME lending products, warehouse lines on LMA terms, private securitisations, and broader regulatory and commercial structuring for platforms, with a strong emphasis on client-facing confidence and enthusiasm for technology-driven financial services.

Fried Frank

Fried Frank carried over a Leveraged Finance Associate (Mid-Senior) role from Q3 2025, which closed in January. Although broader than pure DCM or structured finance, this London corporate finance role focused on complex finance transactions for financial institutions, investment funds and corporates. The firm sought mid- and senior-level England & Wales-qualified lawyers from Magic Circle or US firms who could thrive in a fast-paced and collaborative environment with strong client exposure.

Herbert Smith Freehills Kramer

Herbert Smith Freehills advertised an Associate – Finance role (1–3 PQE) in January, which closed in February. This junior position sat within the firm’s securitisation and structured finance team and involved advising banks, funds, insurers and specialist lenders on warehouses, public securitisations, forward flows and portfolio deals across a range of cash asset classes. The role offered scope to support and progressively lead transactions, draft client advice, manage tasks and deadlines, and contribute to precedents and marketing.

Hogan Lovells

Hogan Lovells carried over a Derivatives and Structured Products Associate role (1–3 PQE) from Q4 2025, which remained open going into Q2. This role sat within the firm’s debt capital markets team and involved advising on structured products programmes, securitised and OTC derivatives, repackagings, securities lending and related regulatory matters.

In February, the firm also advertised a Securitisation and Structured Finance Associate role (2–3 PQE), which also remained open going into Q2. That mandate focused on ABS, forward flows and public and private securitisations across asset classes including auto, SME and consumer receivables, leases, mortgages, infrastructure assets and supply chain finance. Together, these roles highlighted the breadth of the firm’s financial markets offering across both derivatives and securitisation.

Mayer Brown

Mayer Brown carried over an Associate – Securitisation / Structured Finance role (1–3 PQE) from Q4 2025, which closed in February. The position sat within the London banking and finance team and focused on complex structured finance transactions, including drafting and negotiating transaction and security documentation, liaising with clients and counterparties, and preparing legal advice. The firm sought a proactive lawyer with structured finance experience, strong communication skills and commercial awareness.

Pinsent Masons

Pinsent Masons advertised a Structured Finance Lawyer role (2–4 PQE) in January, which remained open going into Q2. This role sat within the firm’s highly ranked London finance team and covered sophisticated UK and cross-border transactions involving securitisation, debt capital markets, asset-backed securities, receivables finance and asset-based lending. In March, the firm also advertised a second role, Structured Finance Lawyer 2 (NQ–1 PQE), which also remained open going into Q2. That position was aimed at a newly qualified or junior lawyer with experience in structured finance, securitisation, debt capital markets, receivables finance or asset-based lending, and reflected the team’s appetite to recruit at both junior and mid-level.

Simmons & Simmons

Simmons & Simmons remained active in this space with two roles continuing through Q1, both of which remained open going into Q2. The first was a Managing Associate – Structured Products role (5+ PQE), first advertised in Q3 2025, involving advice on derivatives, structured credit and equity products for top-tier financial institutions. The second was a Supervising Associate – Derivatives role (4+ PQE), first advertised in Q4 2025, which focused on drafting and negotiating complex trading documentation such as ISDAs, prime brokerage agreements, GMRAs and GMSLAs, alongside advice on regulatory frameworks including EMIR and MiFID II. Together, these roles reflected the firm’s continuing investment in senior structured products and derivatives capability.

Travers Smith

Travers Smith advertised a Securitisation (Senior) Associate role (3–6 PQE) in February, which closed in March. The role sat within the firm’s Structured & Specialty Finance team and focused on securitisation and specialty finance transactions across asset classes including mortgage-backed lending, consumer credit and NPL portfolios. It involved drafting and negotiating facility agreements, security documents and intercreditors, coordinating cross-border counsel and supporting innovative structures such as securitised NAV facilities, with the opportunity to contribute to the growth of a strategically important practice.