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Eversheds expands Financial Services offering with the formation of a Regulatory Compliance team

  • United Kingdom

    16-02-2015

    Law firm Eversheds has announced the launch of the firm’s Financial Services Regulatory Compliance offering, headed by respected financial services regulatory Partner David Saunders, formerly at Nationwide Building Society.

    The firm has already recruited six senior consultants and developed a team of compliance contractors in Eversheds Agile, the firm’s flexible resource function. Eversheds has firm plans for further investment in and growth of the team over the coming months.

    Simon chapman, Noreen Husain and Clive Summers have joined the firm from the specialist regulatory and compliance practice of Resources Global Professionals (RGP) in January 2015. They will be joined by former Managing Director of RGP, Simon Collins in February.

    Jean-Paul Simoes and Jonathan Steward have also joined the team from Ernst & Young and KPMG respectively. Both have strong regulatory experience in the banking and insurance sectors.

    The team will work on a broad range of governance, risk and compliance mandates including past business reviews, redress and remediation projects, s166 skilled persons reviews, FCA authorisations approvals and variations, due diligence, product design, testing and distribution and training and competence. On many projects the firm will field multi-disciplinary teams combining their expert financial services lawyers with the experience of the regulatory consultants.

    Paul Worth, Head of Eversheds Financial Institutions Group said:

    “The true differentiator here is that we will have lawyers and consultants under the same roof. The growth of the Financial Services Regulatory Consulting practice has already seen the firm winning work which otherwise would have gone to the ‘big four’ accountants or risk consultants. This is a natural evolution of our financial services regulatory practice and provides us with the unique ability in the market to be a ‘one stop shop’ for regulatory advice and assistance to our clients. Where appropriate it will also enable the client to rely on legal professional privilege, which is something which the accountants and risk consultants cannot provide.”

    Graham Richardson, Head of Eversheds Consulting said:

    “We are very excited to have launched our Financial services Regulatory Consulting offering, headed by the experienced David Saunders with a team of true compliance professionals. As increased regulatory scrutiny has ensured that governance, risk and compliance remain firmly on the radar of senior management and the board, we recognise what a vital service this will be for clients."

    David Saunders, Head of the Financial Services Regulatory Consulting team added:

    “I am thrilled to be heading up this diverse and highly respected team of regulatory consultants, who will be a strong addition to our well established global Financial Services regulatory and compliance group. Our unique proposition enables us to field multi-disciplinary teams of leading lawyers, former regulators and experienced regulatory consultants which will really set us apart in the market as businesses struggle with increasingly complex financial regulations.”

    Notes to editors:

    Simon Collins is the former Managing Director of RGP, where he was responsible for the UK Compliance business. He has over 25 years financial services experience, 20 of which have been in regulatory compliance consultancy.

    Simon Chapman has over 25 years’ experience in the financial services industry with considerable experience of compliance auditing, and particular expertise in the financial planning, broker-dealing, investment management and private equity sectors.

    Noreen Husain is an experienced regulatory professional and has over 19 years of experience within the financial services compliance, with experience derived from roles within the industry, with Regulators and also Consultancy. She has particular experience in the retail sector including investment management, mortgages and general insurance.

    Clive Summers has over 20 years’ experience in the financial services industry of which 15 years has been spent specialising in the compliance sector. He has held a number of senior compliance positions within regulated firms. He has particular experience of retail investment management, financial planning and mortgage firms of all sizes.

    Eversheds Consulting was launched in 2010, and is a stand alone legal consultancy offering, working with international in-house legal teams to advise on how to manage their legal function more efficiently and effectively. Eversheds Consulting offers services in areas crucial to legal teams including compliance, records management and dealing with legal suppliers as well as providing in-house teams with experts, tools, frameworks and approaches to tackle challenges within their organisations. Clients include Barclays, ITN, Volvo and Du Pont.

    Eversheds Financial Services Regulatory Consulting forms part of a global multi-disciplinary financial services regulatory and compliance group which includes consultants, leading lawyers, former regulators and experienced governance, risk and compliance practitioners. The team operates across the full range of sectors including asset management, retail and wholesale banking, general insurance, life insurance, London market insurance, consumer finance and private equity.

    Disclaimer

    This information is for guidance purposes only and should not be regarded as a substitute for taking legal advice. Please refer to the full terms and conditions on our website.

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