Baker & McKenzie has won a lead role advising UBS on the €800m (£637m) securitisation of a portfolio of Piraeus Bank's residential mortgages.

The deal, which closed earlier this month, saw UBS acting as sole arranger and lead manager on the Greek bank's securitisation. London structured capital markets partner Vincent Keaveny took the lead role for UBS, with tax partner James MacLachlan advising on all tax aspects of the transaction.

The deal is the second Greek mortgage-backed transaction Bakers has advised UBS on after it advised the bank as arranger and joint lead manager on a A1.25bn (£841m) residential mortgage-backed securitisation for Piraeus last year.

Keaveny acted opposite his former firm, Norton Rose, on both deals, where capital markets partner Sandrine Sauvel advised Piraeus, assisted by tax partner Matthew Hodkin on the latest deal.

Keaveny told Legal Week: "This is a nice transaction in the current market. It has been good to work for UBS and the relationship is growing."

Athens-based Bahas Gramatidis & Partners and Kyriakides Georgopoulos & Daniolos Issaias advised Piraeus and UBS respectively on all Greek law matters.

The deal comes after Bakers last month advised Royal Bank of Scotland as arranger on a £215m securitisation for Volkswagen Financial Services.

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