U.K.-based Ashurst has established a consulting arm, hiring a chief operating and strategy officer from Deloitte to lead its risk advisory business.

Ashurst Consulting, a new business line that will provide specialist consulting services that complement the firm's core legal services, will initially operate in Australia, the firm said.

Philip Hardy, who is launching the consulting arm, had been a partner at Deloitte since 2008 and headed the firm's Australian governance, regulation and conduct advisory business.

"Phil is a highly experienced partner with a demonstrated history in the management consulting industry. Skilled in conduct and risk management, with a specialization in financial services, he has a track record in executive leadership roles covering strategy, operations, finance and client solutions," the firm said in a statement.

Ashurst has also launched a service it calls Board Advisory, led by Joshua Smith, who has advised many public and private company boards in the Asia Pacific. The Board Advisory focuses on solving clients' high-level leadership and governance issues.

"Establishing this new business reflects our commitment to building a high-quality consulting offering at Ashurst," said Ashurst global managing partner Paul Jenkins. "It will strengthen our ability to effectively manage clients' most critical business challenges, by bringing together the technical expertise and rigor required to create value by meeting a broader spectrum of their needs."

Jenkins noted that Hardy looked after businesses during and in the aftermath of the great financial crisis and said he will be an asset to the global firm and partners as they advise clients through the many impacts that COVID-19 will have on their businesses.

The firm said clients are seeking "holistic solutions" that help them comply with the complex regulatory and legal frameworks in which they operate.

"Introducing consulting capability that sits adjacent to the firm's top tier legal advice will enable Ashurst to deliver the types of solutions the market is demanding—solutions that operationalize laws and regulations," the firm said.

A Deloitte spokesperson wished Hardy the best for the chapter in his career.

"We value the contribution Phil delivered for the Partnership," the spokesperson said in a statement.