Elizabeth Stroud

Partner

Structured finance and derivatives lawyer for commodity, equity, and crypto transactions, combining technical skill with commercial insight

"Liz Stroud is an exceptional lawyer, combining top-quality technical legal expertise with great industry knowledge."

Legal 500 UK, Finance: Derivatives & structured products client

"Liz is one of the smartest people I've worked with. She understands the full picture."

Chambers UK, Commodities: Trade Finance client

Liz is a partner in the Energy & Natural Resources Group based in Reed Smith’s London office. She is also a member of On-Chain: Reed Smith’s Crypto & Digital Assets Group.

Experience

Representative matters

Advising a number of investment banks in relation to strategic equity and financing transactions, including:

  • syndicated and bilateral margin loans (both recourse and non-recourse) referencing Shares listed in various European jurisdictions (including Germany, Luxembourg and London);
  • a range of equity derivative transactions, including stakebuild total return swaps, funded and unfunded collar transactions, call options, put options and accelerated share forward
  • transactions referencing Shares listed in various European jurisdictions and US-listed ADRs;
    share buyback mandates;
  • hedging transactions in relation to employee share option plans, including via equity derivatives and share buyback mandates; and
  • stock lending and repurchase transactions referencing Shares listed in number of European jurisdictions.
Advising an investment bank as bidder in relation to the auction of a portfolio of commodity derivatives.
Advising a number of financial institutions in relation to risk syndication transactions with a variety of different structures, including pass-through Notes, risk participation agreements, structured credit transactions and financial guarantees.

Recognitions

  • Ranked as an Associate to Watch, 2023-2024 and Up and Coming, 2025-2026 in Chambers UK for UK-wide Commodities: Derivatives & Energy Trading and UK-wide Commodities: Trade Finance

Credentials

Education

  • BPP Law School, 2012, LPC
  • College of Law, 2011, Graduate Diploma in Law
  • University of Cambridge, 2010, B.A., History

Professional admissions & qualifications

  • England and Wales

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