Big four accountancy firm EY has hired BLP legal risk boss Matthew Whalley to launch its own financial services risk service.

Whalley, who joins the firm as a director, was previously head of legal risk at BLP.

He was also previously BLP's client knowledge manager and prior to that was head of knowledge management for HSBC group legal and compliance.

Matthew Kellett, the head of EY's financial services law practice, said: "At a time when the regulatory lens is so keenly focused on how financial services firms are managing their risk, Matthew's expertise will be extremely welcome to our financial services clients."

Kellett joined EY in 2014 from BLP where he was head of the firm's finance practice.

The accountancy firm, which received an alternative business structure license in 2014, has stated that it plans to double the size of its legal services team in the UK by the end of 2016.

It hired Kellett and Addleshaw Goddard corporate head Phillip Goodstone in 2014, to head up its financial services division and its corporate division respectively.

It also added Olswang employment partner Daniel Aherne in 2014 to head its UK employment practice.

In May EY hired Baker & McKenzie banking partner Steven Francis and Weil Gotshal & Manges London private funds regulation head James Gee and 10 associates to launch a new financial regulatory practice in the City.

BLP has seen a series of senior exits in recent months including former corporate head David Collins, who left in October before joining Dentons this month; BLP head of arbitration Richard Power joined Clyde & Co in October and Paul Severs, BLP head of structured debt and capital markets, joined Paul Hastings this month.