Nelson Mullins Riley & Scarborough LLP has been shortlisted by the Financial Times for its 2023 Innovative Lawyers Awards for North America in the category of Innovative Lawyers in Deals & Financing.
The firm has been recognized for its representation of Redemption Holding Company in a transaction led by Greenville partner Neil Grayson and Charlotte associate Brian Russ. Winners will be announced at The Financial Times annual awards event for the Innovative Lawyers Awards — North America, on Dec. 4 at Gotham Hall in New York City.
Nelson Mullins is representing Redemption Holding Company in what will be the first ever acquisition of an existing bank by Black investors. Redemption Holding Company has entered into an agreement to acquire Holladay Bank & Trust and will convert it to a minority depository institution (MDI) following the closing. The bank is expected to become the only Black-owned MDI headquartered west of Texas. Redemption Holding Company is led by former White House Policy Advisor and Small Business Administration Regional Administrator, Ashley D. Bell, with early-stage support by Dr. Bernice A. King — the daughter of the late Dr. Martin Luther King, Jr. and Coretta Scott King.
The acquisition is expected to close in the first quarter of 2024.
Grayson leads the firm’s financial institutions corporate and regulatory practice group, representing primarily financial institutions, fintech companies, and alternative financial services companies. He handles securities offerings, M&A, corporate governance matters, and regulatory matters. He is also the co-leader of the firm’s social impact and diverse financial services practice initiative and has been particularly focused in developing this initiative, which includes working with both for-profit and not-for-profit financial services businesses, including minority depository institutions and minority-owned fintech companies.
The FT Innovative Lawyers Program assesses lawyers on their innovation for clients and in their own businesses. It consists of rankings and awards based on independent research from RSG Consulting and journalism from The Financial Times. The results are announced at an awards event, and the rankings are published as an FT Special Report.
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