Australian Banking Inquiry a Boon for Law Firms
A yearlong, unprecedented government inquiry into misconduct in Australia's banking and financial services sector has kept law firms busy—and there's more work to come.
July 18, 2019 at 06:44 PM
8 minute read
Australia is making sweeping changes to its financial services industry – and that has been a boon for law firms.
The changes have resulted in a spike in work, prompting firms to hire additional risk and regulatory experts. Norton Rose Fulbright hired Danielle Avery and Philip Charlton as senior risk advisers in Sydney last year, for example. And earlier this week, Herbert Smith Freehills brought on Joseph Longo, a former Deutsche Bank general counsel in Hong Kong, as a senior adviser for its financial services regulatory practice in Perth.
Australian firm MinterEllison also launched a risk and regulatory practice last year, with Big Four accounting firm veteran Rahoul Chowdry. Other firms, including Jones Day and even the legal arm of PricewaterhouseCoopers, told Law.com's The Asian Lawyer that they are looking to add partners in financial services.
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