Hogan Lovells launches financial services consulting arm with PwC hire

Hogan Lovells has launched a consulting business for its UK financial services clients, with the hire of a director from PwC.

The new practice will offer both legal and consulting services for clients’ regulatory strategy and compliance needs.

PwC director Steve Murphy will lead the offering, called Hogan Lovells Financial Services Regulatory Consulting.

Murphy was a director in the accountancy firm’s regulatory consulting practice from 2008 until this year and he joins Hogan Lovells as a director.

The new offering  will be available to any of the firm’s financial services clients either based or operating in the UK. Services offered will include advising on large-scale due diligence for transactions, preparation for regulatory visits and information requests, and risk reviews.

Hogan Lovells currently offers project management support to a range of financial services clients including asset managers, banks, building societies, wealth management firms, payment services providers and insurance companies.

Hogan Lovells financial services partner Emily Reid will work closely with Murphy in the new practice. She said: “We are not aware of any other law firm in the UK offering this combination of legal and consulting capabilities for financial services companies. The launch of the practice and arrival of Steve are well timed. With the uncertainty caused by Brexit, the next few years are likely to see significant upheaval and change for the sector.”