Ronnie Barnes



  • London


Ronnie Barnes coheads Cornerstone Research’s international arbitration and litigation practice. Dr. Barnes is an expert in accounting, damages, and valuation. He specializes in cases that raise complex valuation issues, including the estimation of the cost of capital, the determination of country risk premia, and the valuation of complex financial instruments such as derivatives and structured finance products.

Dr. Barnes has provided written and oral testimony in a number of litigation and arbitration matters in the United Kingdom, United States, Canada, South Africa, and internationally. He has addressed such topics as the tax treatment of hire purchase contracts; the quantum of damages in commercial disputes; the economic equivalence of different financial derivatives; the cost of capital in the contexts of a competition enquiry and valuation disputes; the use of derivatives in alleged share price manipulation; and stock market efficiency in shareholder actions.

In addition to serving as a testifying expert, Dr. Barnes leads teams that support academic and practitioner experts. In this capacity, he has worked on numerous matters related to financial institutions and financial products. He has addressed issues related to the analysis of damages stemming from alleged misrepresentations and omissions in corporate disclosures, as well as other matters requiring sophisticated accounting, financial, and/or economic analysis.

Dr. Barnes has published research on a range of topics, notably cross-border valuation, valuation methodologies, damages, and the role of economic and econometric analyses in shareholder actions. He has authored or coauthored multiple articles, as well as chapters in leading reference books on international arbitration.

A UK-qualified chartered accountant, Dr. Barnes previously held positions in accounting and investment banking firms, as well as a consulting firm and academia. He has more than a decade of experience teaching courses in corporate finance, accounting, and valuation, among other topics.

Professional Affiliations
Press Release

2021 Who’s Who Legal: Consulting Experts


Market Abuse 2021: Key Takeaways


Expert Forum: Market Abuse 2021


The Use of Econometric and Statistical Analysis in Damages Assessments


Discounted Cash Flow: A Guide for the International Arbitration Practitioner

Press Release

WWL: Arbitration Expert Witnesses 2021


European Shareholder Group Actions—The Role of Economic Analysis: Key Takeaways


Expert Forum: European Shareholder Group Actions—The Role of Economic Analysis

  • “The Conduct of Arbitrators, Counsel and Witnesses within the Arbitration Process,” Dublin International Arbitration Day 2018, 16 November 2018
  • “The Rise of Group Litigation,” Commercial Litigation and Arbitration Forum 2018, 6 November 2018
  • “Managing Class and Group Actions: A Roadmap for Success,” CDR Autumn Litigation Symposium, 20 September 2018
  • “Hot Topics Related to Arbitration and Damages,” 2nd Annual GAR Live Damages, 13 September 2018
  • Damages 2018: Recognising Your Options Beyond Discounted Cash Flow, Cornerstone Research, 26 June 2018
  • “Risk and Mitigation in the Financial Markets: Pivoting to New Risks,” Banking Litigation & Regulation Forum 2018, 14 June 2018
  • “Counsel and Experts React,” GAR Live London Autumn—A 360° Look at Damages, 30 October 2017
  • “Estimating Damages in Litigation—Beyond Discounted Cash Flow,” Cornerstone Research, 18 May 2017
  • “The Aftermath of Rate-Fixing: LIBOR, FOREX & ISDAFIX—What Happens Now?,” Fifth Annual Financial Institutions Litigation 2015, 30 November 2015
  • “Financial Services Litigation,” Commercial Litigation Summit, 13 May 2015