Richard Jacobsen, leader of Orrick's Financial Services Litigation practice and member of the firm’s 12-person Management Committee, represents some of the world’s largest financial services companies in complex and high-value disputes. For over a decade, Rich has successfully defended clients against billions of dollars of claims arising out of the 2008 financial crisis, securing some of the most favorable settlements and trial and appellate victories that have set precedents and significantly impacted the finance industry and his clients’ exposure. While continuing that work today, he also guides investment banks and asset managers through their most significant commercial disputes.
Rich serves as lead counsel for Credit Suisse’s entire residential mortgage-backed securities (RMBS) docket in federal and state courts throughout the country. For nearly a decade, he has been lead counsel for Ocwen Financial Services in all matters concerning its market-leading business servicing loans in residential mortgage-backed securitizations. He is lead counsel for Goldman Sachs in two RMBS cases in the SDNY. Rich has also frequently represented companies with respect to disputes involving the distressed debt trading market, including Jefferies and Citibank.
He and his Orrick team bring to each representation a combination of deep financial markets knowledge, holistic litigation strategy and a problem-solving mentality. In an industry where many cases are settled, he has established a formidable record at trial and on appeal, while achieving regulatory settlements at a small fraction of the industry benchmarks.
Named Litigators of the Week by The American Lawyer for his representation of Credit Suisse that yielded a precedent-setting decision from the New York Court of Appeals that will change the future of RMBS litigation, clients laud Rich telling Chambers (2022), “He makes my job easier by deploying a combination of impeccable legal skill, excellent judgment and a knowledge of the financial services industry.” “I would recommend Rich to anyone.” Echoing that praise, clients say (2021) “I would recommend Richard Jacobsen in the highest terms,” he is (2020) “an exceptional litigator” and “a master of navigating commercial disputes.” Chambers also reports that clients regard him as “a commercial disputes wizard.” Clients hold Rich in high regard, telling Legal 500 our commercial disputes team is (2021) “brilliant,” while the publication calls out his “business critical disputes” work for Credit Suisse and Goldman Sachs. Clients further endorse Rich when speaking to Legal 500, noting he (2020) “is always available and willing to do what is necessary in any situation. His knowledge of the industry and more importantly where we fit in the industry has paid tremendous dividends from a legal representation perspective. I have not dealt with an attorney from any other firm that had the combination of knowledge, ability, reputation and judgment that Rich has.” Another client called out Rich’s “razor sharp intellect” which sets him apart from other disputes and trial lawyers.
A first-chair trial lawyer, Rich has litigated commercial and product liability disputes for clients in many other industries in venues across the country. His clients have included: Amazon, The Dow Chemical Company, Microsoft, DISH Network, Acer and Wyeth. He has argued numerous appeals at the state and federal levels and frequently represents clients before state and federal regulators. He has argued multiple times before seven of the eight current justices in the Commercial Division of New York’s Supreme Court, New York County, and has arbitrated before the American Arbitration Association and London Court of International Arbitration.