Norman Pepe

P: +44 (0) 20 3617 6714
M: +44 (0) 771 734 3138

Practice Areas

Structured Finance, NPLs, Capital Markets, Banking


Norman Pepe is an experienced and commercially-minded business lawyer who has worked for magic circle and top tier international law firms in London and Milan. Norman’s clients include primary investment banks, international investment funds, primary Italian banks, rating agencies and servicers.

Norman’s practice encompasses banking and structured finance, with a focus on residential and commercial mortgage-backed securitisation transactions, distressed portfolios, non-performing loans, principal finance and real estate finance transactions.

In 2019, Norman was selected by Le Fonti Awards as the “International NPL” lawyer of the year.

Norman is dual qualified as an avvocato in Italy (2003) and a solicitor of England and Wales (2008).

Work Experience

  • Gitti and Partners, Partner/Head of Structured Finance, May 2017 to September 2018;
  • RCC, Partner, April 2014 to April 2017;
  • Paul Hastings (Europe) LLP, Associate, February 2009 to April 2014;
  • Bonelli Erede Pappalardo, Associate, October 2005 to January 2009;
  • Freshfields Bruckhaus Deringer, Associate, March 2003 to October 2005.


  • Co-Author of Riflessioni a margine dell’adozione di nuovi regulatory technical standards relativamente al mantenimento dell’interesse economico netto nelle operazioni di cartolarizzazione NPE (Preliminary considerations on the impact of the new regulatory technical standards regarding the risk retention requirement on NPE securitisations) in Giurimetrica, September 2022;
  • Co-Author of Recenti evoluzioni dei meccanismi di funding nelle operazioni di cartolarizzazione (Recent evolutions of funding mechanisms in securitisation transactions), in Diritto Bancario, May 2021;
  • Co-Author of Profili giuridici delle cartolarizzazioni immobiliari e di beni mobili registrati (Legal aspects of securitisations of real estate and registered movable assets), Diritto Bancario, June 2020;
  • Co-Author of Come cedere gli NPL garantiti da ipoteca senza attendere i tempi biblici della giustizia italiana (How to transfer mortgage-backed NPLs without waiting for the biblical times of Italian justice), in Milano Finanza, August 2017;
  • Co-Author of Intermediari finanziari al bivio tra “bancarizzazione” e “deregulation” (Financial intermediaries at a crossroad between “banking” and “deregulation”), in Il Societario, December 2015;
  • La cartolarizzazione dei crediti futuri mediante finanziamento destinato ad uno specifico affare (The securitisation of future receivables through destined financing loans), in Contratto e Impresa, June 2011;
  • Diritto fallimentare e derivati di credito (Insolvency law and credit derivatives) in Analisi legale dei credit derivatives con particolare riguardo ai credit default swaps (Legal analysis of the credit derivatives and in particular the credit default swaps), in, February 2006;
  • Stabilità e crescita: verso una riforma del Patto di Dublino? (Stability and growth: towards a reform of the Dublin Agreement?), in Il Finanziere, May 2002, no. 5;
  • Giudicato penale e procedimento disciplinare (Criminal sentencing and disciplinary measures), in Rivista Giuridica della Guardia di Finanza, February 2002.