Image of Kurt Dittrich

Dr. Kurt Dittrich

Capital Markets Partner, Frankfurt

“I am a structured finance lawyer with more than 20 years of experience in a wide variety of capital markets products. Drawing on my in-house experience at a large German bank, I make every effort to understand clients’ businesses and their specific requirements to ensure smooth completion of complex deals.”

Overview

Professional experience

Education and qualifications

Overview

As head of the firm’s German finance division, Kurt specialises in structured capital markets products with a focus on true sale securitisations (term and conduit securitisations of different asset classes), structured covered bonds, synthetic securitisations, derivatives and other financing products.

In addition, Kurt advises bidders and purchasers on the transfer of non-performing loan (NPL) portfolios on a regular basis (in particular, German and pan-European real estate-collateralised portfolios).

Kurt complements his experience in capital markets transactions with specialist expertise in clearing-related matters, where he, for example, took the lead on advising Eurex Clearing AG on the establishment of several of its clearing models.

Kurt also advises several financial institutions on the implications for their businesses of the UK’s decision to leave the European Union.

Kurt spent two years working in the legal department of Commerzbank from 2000 to 2001.

Work highlights

Kurt has led on many of the German market’s most significant capital markets transactions. These include advising:

  • Commerzbank on a €5bn SME structured covered bond programme, the first German structured covered bond
  • on several risk shields for German banks (including Landesbank Sachsen, Bayerische Landesbank, IKB and Hypo Real Estate) in the context of the financial crisis, including advising Landesbank Baden–Württemberg (LBBW) on the establishment of its €17bn risk shield for Landesbank Sachsen's structured investments following its acquisition of Landesbank Sachsen
  • Commerzbank and Deutsche Bank on the establishment of securitisation platforms for German SME loans
  • KfW Bankengruppe on the establishment of the EPIC platform for synthetic securitisations of project finance loans/bonds and on several subsequent transactions
  • J.P. Morgan on the acquisition of several non-performing loan portfolios, including the first NPL portfolio transactions in Germany
  • the German True Sale Initiative on the establishment of its German securitisation platform

Professional experience

Kurt regularly publishes in the field of banking and capital markets. His articles include:

Chapter on the implications of EMIR on the documentation of OTC derivatives, Finanzderivate, Zerey, 2016

“Clearing, Reporting und Risikominderung: EMIR-Auswirkungen auf die Dokumentation von OTC-Derivaten“, Finanzderivate, Zerey, with Jörg Fried

Education and qualifications

Kurt studied law at the University of Frankfurt am Main.

He speaks German and English.