Hogan Lovells offices at 555 13th Street, NW in Washington, D.C. October 25, 2016. (Photo: Diego M. Radzinschi/ALM)
Hogan Lovells has started a consulting business for its financial services clients in the U.K. after hiring Steve Murphy from his role as a director at PricewaterhouseCoopers LLP.
Murphy, who is not a lawyer, spent the past nine years as a director at PwC. He was previously a director with rival accounting firm Ernst & Young LLP and a compliance director at British banking giant Barclays plc.
At Hogan Lovells, Murphy (pictured right) will be a director and head of the firm’s financial services regulatory consulting arm, a new practice that will offer both legal and consulting services for clients’ regulatory strategy and compliance needs.
The new offering will be available to any of Hogan Lovells’ financial services clients that are either based or operating in the U.K. Such services will include advising on large-scale due diligence for transactions, risk reviews and preparation for regulatory visits and information requests.
“We are not aware of any other law firm in the U.K. offering this combination of legal and consulting capabilities for financial services companies,” said a statement by Hogan Lovells financial services partner Emily Reid, who will work closely with Murphy. “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.”
Hogan Lovells is currently advising a delegation of London-based business leaders headed to Brussels to discuss the terms of the U.K.’s withdrawal from the European Union, a process known as Brexit. The firm authored a white paper on the subject earlier this year.
Hogan Lovells, which last month opened an office in Boston after making another acquisition, also currently offers project management support to a range of financial services clients such as asset managers, banks, building societies, insurance companies, payment services providers and wealth management firms.