Kelly A.Carrero

Partner

(T) + 1.212.326.8391

Kelly Carrero has more than a decade of experience handling litigation, regulatory, and internal investigation matters. Her practice focuses on representing financial institutions, corporations, and individuals in matters involving securities or other complex financial transactions, including commodities, futures, derivatives, RMBS, CDS, CDOs, CLOs, ETFs, and foreign currency transactions.

Kelly has represented BNP Paribas, Citigroup, Deutsche Bank, Goldman Sachs, RBS, Wells Fargo, and various Lehman entities. She has handled matters in federal and state courts throughout the U.S. and before the SEC, FINRA, CFTC, and other federal and state regulatory authorities. She also provides prelitigation advice on documentation and risk mitigation, including in connection with ISDA-documented transactions. Recent investigations and litigation have involved cross-border issues, FCPA and Dodd-Frank compliance issues, false reporting of pricing benchmarks, whistleblowers, allegations under the federal securities and antitrust laws, purported RICO violations, and common law fraud, fiduciary duty, and contract claims.

Prior to practicing law, Kelly was an NASD Series 7 registered representative and worked at Goldman Sachs. In addition, she acquired significant financial institutions experience during a secondment at Deutsche Bank. Kelly has been recognized by Super Lawyers and Legal 500. She is a member of Women in Derivatives, the Securities Industry and Financial Markets Association, and the Derivatives & Structured Products Subcommittee of the New York State Bar Association.

Kelly is active with pro bono matters and has argued before the U.S. Court of Appeals for asylum petitioners. She co-heads the New York Office's client affairs committee and serves on the recruiting and diversity committees. She also serves on several boards, including a nonprofit theater company based in New York.

Experience

  • Harman International Industries defends securities class actionJones Day represents Harman International Industries, Incorporated and certain of its officers and directors in a securities fraud class action lawsuit pending in the District of Columbia.
  • Lehman Brothers Holdings seeks recovery of undisclosed asset value transferred in bankruptcy sale of broker dealerJones Day represents Lehman Brothers Holdings Inc. in an action to recover assets transferred to Barclays Capital Inc. when Barclays purchased the Lehman broker dealer business shortly after Lehman's bankruptcy filing in September 2008.
  • Deutsche Bank defends against lawsuit by Arco Capital CorporationJones Day represents Deutsche Bank AG in an action alleging misconduct in connection with an emerging market collateral loan obligation ("CLO"), which as a synthetic CLO involved credit default swap agreements in which Deutsche Bank was the CLO issuer's swap counterparty.
  • Chapter 7 Trustee of Anthracite Capital recovers in excess of $50 million for estateJones Day represented the Chapter 7 Trustee (the "Trustee") of Anthracite Capital, Inc. ("Anthracite") in its chapter 7 bankruptcy which filed on March 15, 2010 in the U.S. Bankruptcy Court for the Southern District of New York.
  • Citigroup defends against non-disclosure allegations concerning investment of subprime mortgage-backed securities in Falcon FundJones Day represented Citigroup Inc.; Citibank, N.A.; Citigroup Alternative Investments LLC; and Falcon Strategies Two LLC in seven causes of action based, among other things, on the allegations that the Falcon Fund was more heavily invested in subprime mortgage-backed securities than disclosed.
  • Westbrook defends against claims brought by Occidental Hotels related to $400 million sale of Allegro ResortsJones Day is representing Westbrook Allegro L.L.C., Westbrook Real Estate Fund II, L.P., and Westbrook Real Estate Co-Investment Partnership II, L.P. in response to claims asserted by Occidental Hotels Management B.V. and its subsidiaries that are related to a $400 million sale of Allegro Resorts Corporation.
  • U.S. private bank defends foreign private litigation concerning sales and marketing of Collateralized Loan ObligationsJones Day is representing a U.S. private bank in connection with foreign private litigation concerning sales and marketing of Collateralized Loan Obligations (CLOs) to high net worth individuals.
  • Xcel Energy defends class action alleging manipulation of NYMEX natural gas futures and options pricesJones Day represented e prime, Inc., a subsidiary of Xcel Energy Inc., in a consolidated class action lawsuit alleging manipulation of NYMEX natural gas futures and options prices in violation of the Commodity Exchange Act.
  • Lehman Brothers defends action arising out of tax strategy optionsJones Day represented Lehman Brothers Inc., three of its employees, and an affiliated entity in an action brought by individuals and their affiliated entities arising out of a tax strategy involving options, which the IRS later disallowed.
  • Verint Systems acquires Witness Systems for $950 millionJones Day advised Verint Systems Inc. in its $950 million acquisition of Witness Systems, Inc.
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