Financial Institutions and Banking

Financial Services Transfer Pricing

Financial Services Transfer Pricing

NERA economists use advanced analytical techniques to perform differentiating analyses that help multinationals in determining arm's length pricing for financial services firms transactions. The analyses take into account the unique characteristics of regulatory environments in which many financial services firms have to operate, as well as competitive features of markets for financial services using all relevant data sources in the industry. Our capabilities in this field uniquely position us to manage transfer pricing risk and deliver value to our clients.
 
NERA's capabilities span all areas of transfer pricing for financial services firms including structuring of service flows, cost allocation arrangements, asset and equity related valuation, capital structure consideration, and other financing related issues, such as Intra-Group Financing Transactions.
 
NERA economists have a deep understanding of the value creation processes of industry leaders in the Financial Services Sector, including:

  • Investment and wealth management
  • Insurance
  • Banking and capital markets
  • Private equity
  • Real estate

Through our deep-seated experience and expertise in this sector and the regulatory constraints in which these organizations operate, NERA economists provide sound analyses of intercompany transactions and on appropriate remunerations of the various entities included in the value chain. The transfer pricing specialists collaborate intensively with colleagues within NERA's Securities and Finance Practice.

Our transfer pricing experts notably support clients by:

  • Establishing an arm's length basis for rewarding transactions taking into account any provision of ancillary services and the contribution of intangible assets to the value creation process.
  • Providing economic and financial analyses of the net compensation paid to key functions within the value chain, as part of a series of cross-border transactions.
  • Analyzing and providing economic advice on the overall cross border intra-group pricing system adopted.
  • Designing transfer pricing policies in line with the dynamics of the business, the roles and responsibilities of the entities and teams, their functions, assets and risks, and ultimately, their contribution to value creation. 
  • Performing the necessary equity and asset related valuations and pricing in the case of organizational restructuring.
  • Assisting Multinationals in their communication on transfer pricing. This can include both the preparation of contemporaneous transfer pricing documentation for communication to tax authorities and the preparation of documents for a wider audience inside and outside of the multinational enterprise. Examples are internal communication to a broad internal audience, or to boards, and documentation for external auditors, investors, or workers councils.
  • Providing experts specializing in financial economics and transfer pricing to support a taxpayer's position in controversy and negotiations with tax authorities.
Name Title Location Phone Email
Dr. Patrick Conroy Managing Director
Chair of NERA's Securities and Finance Practice
New York City +1 212 345 1466 patrick.conroy@nera.com
Dr. Anne Gron Managing Director Chicago +1 312 573 2850 anne.gron@nera.com
Dr. Emmanuel Llinares Managing Director
Head of Global Transfer Pricing
Paris
Geneva
London
+33 1 70 75 01 93
+41 22 819 94 94
+44 20 7659 8650
emmanuel.llinares@nera.com
Dr. Chudozie Okongwu Managing Director New York City
London
+1 212 345 5003
+44 20 7659 8568
chudozie.okongwu@nera.com
Dr. Sharon Brown-Hruska Director Washington, DC +1 202 466 9222 sharon.brown.hruska@nera.com
Dr. Stuart L. Harshbarger Director White Plains, NY +1 914 448 4185 stuart.harshbarger@nera.com
Nihan Mert-Beydilli Associate Director Los Angeles +1 213 346 3035 nihan.mert.beydilli@nera.com
Amanda Pletz Associate Director London
Geneva
+44 20 7659 8528
+41 22 819 94 94
amanda.pletz@nera.com
William P. Hrycay Senior Consultant New York City +1 212 345 1518 william.hrycay@nera.com
Gary Lambert Senior Consultant London +44 20 7659 8652 gary.lambert@nera.com
Dr. Alexander Voegele Affiliated Consultant Frankfurt +49 69 710 447 501 alexander.voegele.affiliate@nera.com
Title Type Author
Expert Analysis: Financial Crisis Anniversary - Trends In Credit Crisis Settlements Published Article By Faten Sabry, Sungi Lee, and Linh Nguyen
PDVSA’s Peculiar Oct. ’22 Bond May Carry Elevated Risks Report By Timothy McKenna and Raphael Starr
Securities Class Actions: 2016 Full-Year Review and Mid-2017 Flash Update Published Article By Stefan Boettrich and Svetlana Starykh
BSA/AML Compliance and Enforcement: An Update for the Securities and Derivatives Indu... Published Article By. Sharon Brown-Hruska
Not All MBS Settlements Are Equal White Paper By Faten Sabry, Sungi Lee, and Linh Nguyen
Trends in Canadian Securities Class Actions: 2016 Update Report By Bradley A. Heys & Robert Patton
Trends in Regulatory Enforcement in UK Financial Markets 2015/16 Year-End Report Report By Robert Patton and Erin McHugh et al
Value Creation, Comparability and Bargaining Analysis: Key References in Transfer Pri... Book Edited by Dr. Emmanuel Llinares and Sébastien Gonnet with contributions from Dr. Harlow Higinbotham, Dr. Vladimir Starkov, Bastian Gottschling, Dr. Alexander Voegele, and Pim Fris
Practical Questions in German Transfer Pricing Published Article By Dr. Alexander Voegele and Philip de Homont
Lasting Implications of Global Crisis: Firm Decisions and Transfer Pricing Published Article By Amanda Pletz with former NERA Senior Consultant Artur J. Bonifaciuk