Financial Services - Henry Davis York

Financial Services

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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.

They have very strong technical knowledge, sector-leading professionals, good depth of talent below partner level and ease of access to partners at all times

Chambers Asia-Pacific, 2014

Contact

Nikki Bentley

Partner

61 2 9947 6245

61 422 004 806

nikki.bentley@hdy.com.au

 

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:

Our relevant experience

  • ABC Learning Centres

    The corporate collapse of ABC is one of the largest and high profile collapses in Australian corporate history. As lawyers for ABCs’ banking syndicate of 7 banks (including the 4 major Australian domestic banks, and 3 international banks) and its receivers we have advised on a unique restructure of ABC’s core business prior to its sale along with a number of cross-border issues. We have also provided general advice to the banking syndicate and on examinations conducted by the administrator/liquidator.

  • Syndicate of global insurance companies

    Acted on the world's first syndicated bank guarantee facility placed exclusively with the insurance markets in relation to Woolworths Workcover arrangements.

  • Big 4 Australian Bank

    Advised on the disposal and management buy-out of a funds management business. Advised on deal structuring and the disposal process as well as the requirements for changing the responsible entity of a registered scheme for which the exiting business acted as fund manager. Prepared the principal sale documentation and assisted with negotiation.

  • Morgan Stanley Real Estate

    Acted for a global real estate special situations fund in respect of its acquisition of 2 large portfolios of non-performing real estate loans from the Lloyds Banking Group backed by security over residential, commercial and retail developments across the eastern seaboard of Australia. With a face value in excess of A$1.5bn, these were at the time the largest ever non-performing portfolio sales undertaken by any financial institution in Australia.

  • Big 4 Australian Bank

    Advising on the design, development and roll-out of a revolutionary new point of sale payment solution - comprising a secure merchant terminal and open platform for the deployment of software apps - which is set to transform the way business operates.

Our financial services insights

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