City law firm Ashurst is set to expand its services offering by launching a UK consulting business.
The Silver Circle firm plans to build on the successes it has had in Australia by launching a London based risk advisory business.
Ashurst’s new consulting business will be led by a trio made up of current Ashurst partner Matt Worsfold – who is relocating from Ashurst’s Australian business – alongside two new hires.
The new hires include Matthew Russell, a partner in PwC’s financial crime segment, and Nisha Sanghani, a partner at boutique consulting firm Rosediem.
Ashurst is seeking to capitalise on growing demand for advice as businesses face a “perfect storm of rising inflation and interest rates, accelerating post-Brexit regulatory reform and increasing risks of cyber threats,” the Jamie Ng, head of the law firm’s risk advisory business, said.
The law firm’s new consulting business is initially set to focus on serving the UK’s financial services sector, with particular focus on crypto markets and cybercrime.
Ashurst chief executive Paul Jenkins said: “One of the key strategic risks facing business leaders across the globe today is the challenge of how to manage fast-moving cyber risks and regulations.”
“Cyber crime in the UK rose sharply during the pandemic while the rise of cyber-attacks mean it is vital that organisations take a more proactive approach to cybersecurity.”
Ashurst is one of the UK’s ten largest law firms in terms of revenues, having initially been founded in the City of London in 1822.