Ashurst launches Ashurst Consulting
The move comes as clients increasingly seek 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 operationalise laws and regulations.
Ashurst Consulting will initially be offered in Australia, and will see the firm's legal and consulting professionals work side by side to set clients up for success by implementing solutions that minimise risk, manage change, and take into account the whole picture of client circumstances to drive improved business performance.
The first adjacent service, Board Advisory, led by Joshua Smith, launched on 1 March and focuses on solving clients' most complex high-level leadership and governance issues. The second component, Risk Advisory, launched on 31 March and offers services related to non-financial risks, including regulatory compliance, conduct and risk management, initially targeted at financial services clients.
Risk Advisory is led by partner Philip Hardy, with more partners joining in the coming months.
Philip joins from Deloitte, where he has been a partner since 2008 and headed up 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 specialisation in financial services, he has a track record in executive leadership roles covering strategy, operations, finance and client solutions.
Global managing partner Paul Jenkins commented:
"Establishing this new business reflects our commitment to building a high quality consulting offering at Ashurst. It will strengthen our ability to effectively manage clients' most critical business challenges, by bringing together the technical expertise and rigour required to create value by meeting a broader spectrum of their needs.
"We are absolutely delighted to have Phil join us to lead the Risk Advisory practice. Phil is a genuine leader in this field, having built and led high quality teams over many years. His experience looking after businesses during the GFC and in the aftermath will be an asset to the global firm and our partners, who will be advising our clients through the multitude of effects COVID-19 is having on their businesses."
Philip commented:
"I am very pleased to be joining Ashurst to help lead their new Risk Advisory practice. The Ashurst offering, which brings together top quality legal advice with top quality risk consulting, is differentiated in this market as we are building a prestige risk brand. I look forward to the opportunity to build something distinctive, with the strategic intent of a global law firm behind me."
Joshua Smith commented that:
"In this time of crisis, one of the most significant events in our lifetimes, it is more important than ever that the Boards of Australia's leading listed companies work in pursuit of proactive corporate governance practices. The majority of working Australians are directly or indirectly invested in these companies [through their superannuation funds], so our collective future depends on it."
Ashurst's Board Advisory Practice works with the Boards of Australasia's largest public and private companies to solve their most complex high-level governance, leadership and people issues. We assist our clients to enhance organisational and Board performance. Our mission is to best position the companies we serve on a journey of sustainable growth.
Joshua further commented:
"Our team has great passion for its work. We understand the rapid evolution of corporate governance; and the resultant pressure, increased complexity and demands placed upon public company Boards and their Directors. Operating in the boardrooms of Australia's leading companies, we work with our clients to address these challenges proactively and pragmatically through our work in relation to Board and CEO Search and Succession Planning; and, Board and Company Performance."
