Richard Jacobsen, leader of Orrick's Financial Services Litigation practice, represents some of the world’s largest financial services companies in complex and high-value disputes. For the past decade, Rich has focused primarily on successfully defending clients against billions of dollars of claims arising out of the 2008 financial crisis. While continuing that work today, he is also turning his attention to helping clients navigate the new wave of disputes emerging from the 2020 crisis.
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.
Chambers (2020 edition) reports that Rich is "regarded as ‘an exceptional litigator’ and ‘a master of navigating commercial disputes.’” The publication also reports that clients regard him as “a commercial disputes wizard.” Clients told Legal 500 (2020 edition) that Rich “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 described Rich as a “razor sharp intellect, strong advisor and always very responsive.”
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.