Charles Wachsstock

Debevoise & Plimpton LLP 

$ $$$

New York 10022 NY US

Charles E. Wachsstock, based in the firm’s New York office, is a member of the firm’s Employee Benefits & Executive Compensation Group. His practice focuses on the design and operation of a wide array of compensatory arrangements for directors, executives and employees, as well as employee benefit matters in public and private mergers and acquisitions.

Mr. Wachsstock assists clients with their disclosure requirements concerning compensation and employee benefits, with their internal corporate governance investigations and their defense of ERISA fiduciary litigation, and with their ERISA duties generally. Mr. Wachsstock regularly helps clients comply with a broad range of laws that apply in the employee benefits and executive compensation context, including tax laws (especially Sections 83, 162(m), 280G and 409A of the Internal Revenue Code), disclosure laws under Item 402 of Regulation S-K and Section 16 of the Securities Exchange Act of 1934 and newly enacted laws such as the Dodd-Frank Act, the Foreign Account Tax Compliance Act and the Patient Protection and Affordable Care Act, commonly known as “healthcare reform.”

Prior to joining the firm in 1999, Mr. Wachsstock served in the Office of the Associate Chief Counsel at the Internal Revenue Service, Department of the Treasury, in Washington, D.C. He received his J.D. from Boston University School of Law in 1997, his LL.M. in Taxation from Georgetown University’s Law School in 1998 and his B.A., summa cum laude, in International Relations and Human History from Boston University in 1993.

Mr. Wachsstock writes frequently on employee benefits and executive compensation matters. Most recently, he is the author or co-author of “Heed the Plan or Face Your Peril: Failing to Follow Plan Procedures Nightmares,” Employee Benefit Plan Review (2012); “Buyer Beware (Employee Edition): Employee Benefit Covenants Could Have Unintended Consequences on ERISA Plans,” The M&A Lawyer (2012); “Have You Been Naughty or Nice? Confessing to Risky Compensation Structures (and Other New SEC Disclosure Rules),” The M&A Lawyer (2010); and “Oops, You Discovered a § 409A Violation: Now What?” Employee Benefit Plan Review (2009).

Experience:

  • Citizens Financial Group in its agreement to purchase certain assets of Bowstring Advisors, an Atlanta-based merger and acquisition advisory firm.
  • Canaccord Genuity Group on its acquisition of Petsky Prunier, a preeminent boutique M&A advisory firm.
  • KeyBank in its acquisition of Laurel Road’s affinity-focused digital lending business.
    Citizens Financial in its acquisition of Clarfeld Financial Advisors.
  • Dealer Tire in a significant investment by Bain Capital Private Equity.
  • AXA and AXA Equitable Holdings on the initial public offering of AXA Equitable Holdings on the New York Stock Exchange for approximately $4 billion, and AXA Equitable Holdings in its offering and sale of $3.8 billion of senior notes.
  • Citizens Financial in its acquisition of Franklin American Mortgage.
  • Dealer Tire in its significant investment in SimpleTire.
  • TPG Capital and Welsh, Carson, Anderson & Stowe, with Humana, in their $1.4 billion acquisition of Curo Health Services.
  • Precision Medicine Group in a new $275 million investment.
  • Two investors in their joint acquisition of Chesapeake Asset Management, a New York-based investment advisor.
  • Canada Pension Plan Investment Board in its $1.1 billion acquisition of Ascot from American International Group.
  • Dealer Tire in its sale of the assets of Dealer Tire Canada to Groupe Touchette.
  • TruGreen, a Clayton, Dubilier & Rice portfolio company, and CD&R in TruGreen’s merger with Scotts LawnService.
  • Nassau Reinsurance Group, a Golden Gate Capital portfolio company, in its acquisition of Universal American’s Traditional Insurance business.
  • Fifth Third Bank in the sale of its Pennsylvania branch presence to First National Bank of Pennsylvania, and the sale of its Missouri branch presence to Great Southern Bank.
  • Lannett in its acquisition for $1.23 billion in cash, plus additional contingent consideration, of Kremers Urban Pharmaceuticals, the U.S. specialty generic pharmaceuticals subsidiary of global biopharmaceuticals company UCB.
  • Canada Pension Plan Investment Board in its $12 billion acquisition of GE Capital’s sponsor lending business, including Antares Capital, the leading lender to middle market private equity sponsors in the U.S.
  • Morgan Stanley Private Equity in the $600 million sale of Creative Circle, a leading professional staffing firm specializing in advertising, creative and marketing talent, to NYSE-listed On Assignment for a mix of stock and cash consideration.
  • UCI in the $257 million sale of its Wells vehicle electronics business to NGK Spark Plug Co.
  • Dealer Tire in its receipt of a significant investment by Lindsay Goldberg and redemption of TA Associates’ ownership interests.
  • MBIA in its sale of Cutwater Asset Management, an investment management company with $23 billion in assets under management, to BNY Mellon.
  • Guardian Life Insurance in its $450 million offering of 4.875% Surplus Notes due 2064.
  • Chemtura in the $1 billion sale of its agrochemicals business, Chemtura AgroSolutions.
  • Canada Pension Plan Investment Board in its $1.8 billion acquisition of Wilton Re, a U.S. life insurance and reinsurance provider.
  • The Special Committee of the Board of Directors of Dell in the $24.9 billion sale of Dell to an investor group including Michael Dell and Silver Lake.
  • Eutelsat Communications in its $1.14 billion acquisition of Satélites Mexicanos.
  • Viewdle, a facial recognition technology provider, in its sale to Motorola Mobility, a division of Google.
  • FNBNY Bancorp and its sponsor, Modern Capital Partners, in FNBNY’s acquisition of Madison National Bancorp and its subsidiary, Madison National Bank.

Education:

  • Georgetown University, 1998, LL.M.
  • Boston University School of Law, 1997, J.D.
  • Boston University, 1993, B.A.

Bar Admissions:

  • Massachusetts
  • New York

Cost

Rate : $$$$

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