Allens has attracted four specialists to boost its banking and financial services capability.
The firm has appointed Kerensa Sneyd in Melbourne and Amy Atashi in Sydney as managing associates. It also appointed Nicola Greenberg as senior associate and Dominique Logan as associate. Both Greenberg and Logan are based in Melbourne.
All four moved from Herbert Smith Freehills.
The appointments have been made as banks and other financial institutions now face greater scrutiny from regulators, tougher regulation and increased penalties for contraventions of the law, Allens said. Since the Hayne Royal Commission, the increased accountability has resulted in wide-ranging impacts for the sector, it said.
Kim Reid, the firm’s banking and financial institutions sector leader, highlighted his group’s edge over rivals.
“Our financial services team draws on experts across a range of disciplines, including M&A, disputes, regulatory response, corporate governance, risk and advisory, banking and finance, and funds management, superannuation and wealth,” he said.
The team is a cross-practice group, giving its depth to advise financial institutions on all aspects of Australian consumer credit, anti-money laundering, counter-terrorism financing and banking regulation, including engagement with key regulators in the sector such as the Australian Prudential Regulation Authority, the Australian Securities and Investments Commission, and the Australian Transaction Reports and Analysis Centre, he said.
Allens said that the four new additions to the team deepen the firm’s expertise in anti-bribery and corruption, anti-money laundering and counter terrorism financing and sanctions laws; consumer credit legislation; responsible lending under the new Banking Code of Practice 2019; design and distribution of banking products; payment systems regulation; risk and compliance management; blockchain and fintech regulation; investigations by domestic and international financial regulators, as well as relevant criminal enforcement bodies; and data protection, commercialisation and exchange, governance and ethics, privacy and cybersecurity.
The lateral hires follow the firm’s appointment of six new senior associates. In the firm’s disputes and investigations group, it recently promoted Sophie Allchurch, Tom Kavanagh, Jessica Alley, and Guy Stucke-Clarke. It also elevated Emma Gorrie and Cici Cui from Allens Patent and Trade Mark Attorneys.