Our focus on the whole of this sector means that we are across the challenges and issues that keep our clients awake at night. We invest a lot of time in understanding the unique and ever changing financial services landscape so we can give our clients the best advice on how to tackle the new challenges and opportunities they face.
We're the number 1 choice of some of the major players in the Australian financial services industry when it comes to helping them with some of their most important and sensitive matters.
Our focus on the financial services sector started way back in 1893 with our relationship with the Bank of New South Wales, which we now all know as Westpac Banking Corporation. Fast forward over 100 years and we now work with all 4 of Australia’s Big Banks, 2 of whom are our largest and longest standing clients. We help the Banks across many of their business units, harnessing the expertise, focus and passion of lawyers from across all of our practice areas.
Our relationship with this sector extends far beyond the Big 4 Banks. Our other financial services clients include Macquarie, UBS, Citigroup, Investec, Henderson Global Investors, Challenger, Man Investments, Eureka and W. R. Berkley Insurance Australia, Sunsuper and Centuria Group.
We also have strong relationships with the relevant regulators and industry bodies including APRA, ASIC, AIMA, INSOL, the RBA and the Financial Services Council.
Regulatory Risk + Strategy
In an environment of increasing regulatory scrutiny and intervention, it is essential that regulatory issues be addressed proactively and strategically.
HDY has a banking and finance Regulatory Risk + Strategy team who are ready to help you respond to regulatory challenges and safeguard your reputation.
Let's take a look at some of the key issues the sector is currently having to address…
In financial services, the need to adapt to challenges brought by operational innovations, new entrants and changing markets and consumer bases is as old as the hills. One view, is that it simply describes capitalism in process. The new buzz around disruption and start-ups in that sense is describing an evolutionary stage only and not a new frontier.
The fintech businesses looking to grab market share from established financial institutions therefore stand as the latest in a long line of market innovators tracing back over the years. These innovators keep good company alongside the developers of the first investment platforms, internet banking, ATMs and telegraphic money transfers.
Over the last few years we've also been seeing a data revolution. Financial services players are treading new ground and many questions are being raised around big data, data retention, and privacy.
We dig deeper into these themes to help you understand the key issues you are facing today:
- Life after the Financial System Inquiry
- Data revolution.