Suhail Qureshi resigns from Dentons to join Neon as Tax Underwriter
Neon has announced the further expansion of its market-leading M&A insurance team with the appointment of Suhail Qureshi to the role of Tax Underwriter, reporting to Dawn Bhoma, Head of Tax Liability Insurance.
Now one of the largest and most experienced in the London market, Neon’s team draws on extensive legal and tax capability as well as the insights gained from assisting clients in hundreds of complex M&A transactions every year.
Suhail joins Neon from Dentons, where he was a Tax Partner and advised on a variety of tax issues, including securitisations, employee incentives and SDLT. He has worked closely with the Neon team for many years, advising on a range of tax insurance issues and transactions.
Recently called a ‘first-class tax lawyer’ with ‘exceptional commercial acumen’ by The Legal 500, Suhail will play a key role in supporting Neon’s M&A team as it continues to serve clients with market leading expertise and experience.
Neon’s M&A tax solutions can add considerable value to the economics of a transaction and are complementary to their market-leading Warranty & Indemnity insurance offering. Suhail’s arrival follows the hire of Neon’s specialist M&A team in 2015 and the expansion of their M&A consortium to £100m for 2018. Recent appointments to the tax liability team also include former Dentons Partner, Andrew Thornton.
ROB BROWN, HEAD OF M&A INSURANCE AT NEON COMMENTED:
“Hiring Suhail further demonstrates our technical capabilities in a highly specialist and complex class of insurance which requires underwriting excellence. Our aim is to be the lead tax insurer in London and core to this strategy is having a team that can offer genuine expertise in both tax and insurance. Suhail is a great appointment and his considerable experience will create excellent value for our clients. The team and I know him well, having worked closely together for a number of years, and are very pleased to welcome him to Neon.”
DAWN BHOMA, HEAD OF TAX LIABILITY INSURANCE AT NEON ADDED:
“Neon is one of the few insurers with the expertise to lead and structure these specialist tax insurances. Our tax team prides itself on providing top-level expertise and the addition of Suhail gives us the resource and capability we need to respond quickly to deal timescales.”
“With significant capacity of £100m, we can provide a high level of protection, often freeing up sale proceeds and providing a strong financial covenant. As clients and advisors make more and more use of insurance for tax risks, it enables parties to an M&A deal to release a deadlock and facilitate funds or liquidators to make distributions without hold-backs or delays.”