Experience

Governance

As a long-standing General Counsel in major UK and European businesses, Chris has extensive experience of UK corporate governance practice at FTSE100 board and executive committee level.

He has handled many challenging board, management and governance issues and understands the risk, reputational and personality factors that influence them, particularly in a listed environment.

He has played a leadership role in financial distress, or other crisis situations and has exceptional experience of the governance, disclosure, contingency planning and other challenges associated with navigating those situations effectively.

He has first-hand knowledge of dealing with all governance aspects of large, cross-border mergers, from pre-deal planning to execution and delivery.

Highlights include the following:

Board advice. Lead advisor to FTSE100 boards on governance matters, complex litigation, regulatory investigations and high value transactions over a long period of time, with an ability to deliver clear, measured and objective advice.
Crisis management: General Counsel at one of Europe’s leading airline groups through Brexit, the Covid pandemic and various other operational and financial crises, and at a major UK utility on the edge of bankruptcy.
Shareholder activism: First-hand experience of dealing with large active shareholders, such as sovereign wealth and infrastructure funds, and the associated governance issues, in both public and private companies.
Organisational: Directly responsible for the design and implementation of International Airlines Group’s governance and compliance framework in the merger between British Airways and Iberia.

M&A / Corporate Finance

M&A / Corporate finance

Chris has played a lead role in many of the most high-profile and complex transactions in the European aviation industry in the last 25 years.

He has unrivalled expertise in the deal structuring, regulatory and execution issues associated with high value aviation transactions, both public and private, and has led the negotiation of many such deals.

Highlights include the following:

The ground-breaking €7bn merger between British Airways and Iberia and the flotation of International Airlines Group on the London and Madrid stock exchanges (2011).
International Airline Group’s record €2.74bn rights issue during the Covid pandemic (2020).
International Airlines Group’s successful €1.4bn takeover bid for Aer Lingus (2015).
The aborted cross-border mergers between British Airways and Qantas (2008), British Airways and Lufthansa (2006) and the aborted British Airways/TPG bid for Iberia (2007).
International Airline Group’s €200m tender offer for Vueling (2014).
British Airways’ key acquisition of BMI British Midland from Lufthansa (2012).
The aborted €1bn offers by International Airlines Group for Norwegian Air (2018) and Air Europa (2021).

In the regulated utilities sector, Chris was closely involved with Thames Water’s negotiation of a £750m shareholder funding package to refinance the business and mitigate the risk of special administration (2023).

He has a wide range of other transactional experience involving a variety of assets.

Legal / Regulatory

Chris has spent his career operating in heavily regulated industries, dealing with complex legal, regulatory and competition issues.

He has had direct and senior engagement with many key regulators, including the UK Civil Aviation Authority, European Commission, UK Financial Conduct Authority, UK Competition and Markets Authority, US Departments of Justice and Transport, Ofwat and the UK Information Commissioner’s Office.

His specialism is navigating legal and regulatory challenges in a way that mitigates risk and delivers the best strategic outcome for a business.

Highlights include the following:

Airline ownership and control: Chris has unique expertise in this area and designed the structure that enabled the creation of International Airlines Group. He was responsible for leading the company’s successful response to the regulatory challenge of Brexit.
Competition cases: He has played a key role in many difficult cases, including the Phase 1 approval by the European Commission of the acquisitions of Aer Lingus and BMI British Midland and in the UK Competition and Markets Authority’s investigation into the transatlantic joint venture between British Airways and American Airlines.
Regulatory pricing: Chris has a detailed understanding of regulatory pricing models from his work at Thames Water and having been closely involved with the Q5 and Q6 pricing reviews at London Heathrow airport.
Regulatory investigations. He has wide experience in handling sensitive investigations, including with the UK Financial Conduct Authority and the UK Information Commissioner’s Office.