Joseph G. Passaic, Jr. - Operating Partner
Joseph G. Passaic Jr. is an Operating Partner at Izar Capital Group. Previously, Mr. Passaic had been a senior partner at Patton Boggs, LLP in Washington, DC since 1998 and joined Manatt, Phelps & Phillips, LLP in 2015 following the merger of Patton Boggs and Squire Sanders. Prior to that time, he was a partner in a boutique Washington, DC law firm specializing in banking and securities law with a particular expertise in mutual to stock conversions. Mr. Passaic began his legal career in the Honors Program of the General Counsel's Office of the Federal Deposit Insurance Corporation, Washington, DC and later served there in a senior position in the Division of Liquidation responsible for dealing with distressed and failing banks through liquidation or government assistance to buyers.
In addition to maintaining a strong and diverse practice, Mr. Passaic served in numerous management capacities at Patton Boggs including the Financial Institutions Group Leader, member of the Management Committee and member of the Operations and Finance Committee.
Historically, Mr. Passaic’s career has been grounded in the representation of financial institutions on matters related to federal regulation and transactions under the Bank Holding Company Act, the Federal Reserve Act, the National Bank Act, the Federal Deposit Insurance Act and the federal securities laws before the Securities and Exchange Commission. Mr. Passaic also advises foreign banking organizations on permissible activities and operations in the US. He also represents banks on government investigations and enforcement actions relating to unsafe and unsound banking practices, violations of law, anti-money laundering and affiliate transactions. Over the course of his career he also represented numerous and some of the largest mutual savings institutions on mutual to stock conversions and their public offerings. In recent years, Mr. Passaic has advised financial institutions and insurers on the implementation of Dodd Frank.
Mr. Passaic also specializes in advising banks nationwide on mergers and acquisitions, capital market transactions both public and private and government assisted acquisitions. He also represents underwriters, investment funds and private investors in such transactions. Notably, in 2013 Mr. Passaic was lead seller’s counsel in one of the largest section 363 Bankruptcy Code bank holding company reorganization and sale of its subsidiary bank to another bank in which Wilbur Ross was a significant investor. He also served as regulatory counsel before the Federal Reserve Board to one of the largest nonbank mortgage servicers subject to enforcement action for faulty foreclosure practices. Mr. Passaic also advises fintech/regtech companies on fund raising and compliance matters.
Over the last fifteen years, as a result of Mr. Passaic's business development efforts, Mr. Passaic’s practice has expanded internationally and into other industries. A significant amount of the business has been in Europe. Mr. Passaic has represented some of Spain’s largest companies and family offices operating in the United States in the renewable (wind and solar) energy, banking, transportation and technology sectors. The services provided are multi-disciplined ranging from tax and business advice on US operations, acquisitions and joint venture transactions, federal regulatory advice, lobbying and complex litigation. Mr. Passaic has also been advising US parties on potential acquisition of nonperforming loans in parts of Eastern Europe.
Mr. Passaic is a graduate of Pennsylvania State University (1975) and Delaware Law School (1979). He is a member of the District of Columbia Bar. Prior to joining Patton Boggs, he was with the law firm of Muldoon, Murphy & Faucette, Washington, DC for fifteen years.
He has served on the Board of Visitors in the School of Liberal Arts for many years at Penn State and served as a mentor for college students interested in a career in law. Mr. Passaic also was an adjunct professor of business law at Georgetown University. Earlier in his career, he co-authored with the current general counsel at FHFA a banking treatise entitled “Banking Law in the United States.”
Joseph G. Passaic Jr. is an Operating Partner at Izar Capital Group. Previously, Mr. Passaic had been a senior partner at Patton Boggs, LLP in Washington, DC since 1998 and joined Manatt, Phelps & Phillips, LLP in 2015 following the merger of Patton Boggs and Squire Sanders. Prior to that time, he was a partner in a boutique Washington, DC law firm specializing in banking and securities law with a particular expertise in mutual to stock conversions. Mr. Passaic began his legal career in the Honors Program of the General Counsel's Office of the Federal Deposit Insurance Corporation, Washington, DC and later served there in a senior position in the Division of Liquidation responsible for dealing with distressed and failing banks through liquidation or government assistance to buyers.
In addition to maintaining a strong and diverse practice, Mr. Passaic served in numerous management capacities at Patton Boggs including the Financial Institutions Group Leader, member of the Management Committee and member of the Operations and Finance Committee.
Historically, Mr. Passaic’s career has been grounded in the representation of financial institutions on matters related to federal regulation and transactions under the Bank Holding Company Act, the Federal Reserve Act, the National Bank Act, the Federal Deposit Insurance Act and the federal securities laws before the Securities and Exchange Commission. Mr. Passaic also advises foreign banking organizations on permissible activities and operations in the US. He also represents banks on government investigations and enforcement actions relating to unsafe and unsound banking practices, violations of law, anti-money laundering and affiliate transactions. Over the course of his career he also represented numerous and some of the largest mutual savings institutions on mutual to stock conversions and their public offerings. In recent years, Mr. Passaic has advised financial institutions and insurers on the implementation of Dodd Frank.
Mr. Passaic also specializes in advising banks nationwide on mergers and acquisitions, capital market transactions both public and private and government assisted acquisitions. He also represents underwriters, investment funds and private investors in such transactions. Notably, in 2013 Mr. Passaic was lead seller’s counsel in one of the largest section 363 Bankruptcy Code bank holding company reorganization and sale of its subsidiary bank to another bank in which Wilbur Ross was a significant investor. He also served as regulatory counsel before the Federal Reserve Board to one of the largest nonbank mortgage servicers subject to enforcement action for faulty foreclosure practices. Mr. Passaic also advises fintech/regtech companies on fund raising and compliance matters.
Over the last fifteen years, as a result of Mr. Passaic's business development efforts, Mr. Passaic’s practice has expanded internationally and into other industries. A significant amount of the business has been in Europe. Mr. Passaic has represented some of Spain’s largest companies and family offices operating in the United States in the renewable (wind and solar) energy, banking, transportation and technology sectors. The services provided are multi-disciplined ranging from tax and business advice on US operations, acquisitions and joint venture transactions, federal regulatory advice, lobbying and complex litigation. Mr. Passaic has also been advising US parties on potential acquisition of nonperforming loans in parts of Eastern Europe.
Mr. Passaic is a graduate of Pennsylvania State University (1975) and Delaware Law School (1979). He is a member of the District of Columbia Bar. Prior to joining Patton Boggs, he was with the law firm of Muldoon, Murphy & Faucette, Washington, DC for fifteen years.
He has served on the Board of Visitors in the School of Liberal Arts for many years at Penn State and served as a mentor for college students interested in a career in law. Mr. Passaic also was an adjunct professor of business law at Georgetown University. Earlier in his career, he co-authored with the current general counsel at FHFA a banking treatise entitled “Banking Law in the United States.”