Eric Welles acts as a testifying expert on financial markets cases, and additionally in a consulting capacity on large-scale litigation in which he assists the legal team in managing the litigation process – investigating case documents, analyzing and critiquing models provided in discovery, and in assisting the legal team prepare subject-matter experts for cross-examination. Eric holds an MBA from the University of Chicago and enjoyed a successful Wall Street career (BofA Merrill Lynch; Daiwa; ABN Amro) spanning almost 30 years. He has traded and managed teams focusing on the short-term financing markets, and has expertise in proprietary trading, asset/liability management, credit risk management, interest rate risk management, and events of default/liquidations. His trading experience includes negotiating structured finance deals, tri-party repo, and various derivatives contracts. Since 2015, Eric has been engaged on complex litigation and bankruptcy/insolvency matters, globally, including cases litigated in the U.S., Hong Kong, UK, Australia, Guernsey, the Cayman Islands, and the British Virgin Islands. In many of these cases Eric has, amongst other things, investigated pre-bankruptcy transactions and conduct within the insolvent entity on behalf of counsel to the bankruptcy trustee. He has also investigated the conduct of third-party providers and gatekeepers to the insolvent entities, including auditors and valuation service providers.
"[Mr Welles] gave oral evidence for one day. He did so carefully, and with dignity and courtesy. He struck me as a person of good sense and balance. I also have no doubt that he gave me his entirely candid opinions and was doing his best to assist me by giving his best accurate account of the repo market in which he was operating at the time. [...] I was impressed by Mr Welles as a clear, logical and conscientious witness, with a proper regard to the role of the expert witness. [...] I found his evidence very helpful in educating me about the world of the repo trader, its workings, motivations and pressures, all at a practical, operational level."
— Trial judge, Carlyle Capital Corp Limited (in liquidation) and Ors v. Conway and Ors, Royal Court of Guernsey (Ordinary Division), Civil Action No. 1510