The UK arm of the risk consulting business will initially focus on British-based financial services, where interest in entering crypto markets and the cyber threats that affect all sectors are particularly driving demand.

The UK-based arm will be launched with three partners: Matthew Russell, who joins from PwC; Nisha Sanghani, from boutique consulting firm Rosediem; and Matthew Worsfold — one of the founding members of Ashurst Risk Advisory — who will relocate to London from the firm’s Sydney office.

The launch of the UK Risk Advisory offering “builds on the success of Ashurst’s Australia-based consulting business”, now a separate division of the firm, which in its second year of operation delivered triple-digit revenue growth, the firm proclaimed.

In Australia, the division now boasts around 100 professionals.

Speaking about the expansion, Ashurst global chief executive Paul Jenkins (pictured) said: “As we celebrate the second anniversary of the launch of our consulting offering in Australia, we are delighted to be accelerating the business’ momentum and expanding our risk advisory business into the UK.

“Our global team will help clients to successfully navigate their most important opportunities and challenges, with offerings aligned to financial services regulation, workplace health and safety, ESG and sustainability, data and analytics and cyber and strategic risk.”

The establishment of the consulting business’ presence in the UK, Mr Jenkins continued, enables the firm to meet clients’ most pressing challenges.

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“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 means it is vital that organisations take a more proactive approach to cyber security,” he explained.

“Our risk advisory business is already supporting the leadership teams and boards at many of the world’s leading organisations to improve the governance, compliance, risk management and crisis response to cyber security, and we are excited to extend this into the UK.”

Global head of Ashurst Risk Advisory Jamie Ng added: “A perfect storm of rising inflation and interest rates, accelerating post-Brexit regulatory reform and increasing risks of cyber threats is resulting in businesses reassessing the way in which they manage risk, not least those in the financial services sector.

“We are also seeing an increased interest from banks and designated investment firms in entering crypto markets, and this is leading to a fast-evolving regulatory landscape and increased scrutiny for this asset class. Ashurst has an exceptionally strong finance regulatory practice in the UK, which, when combined with this new risk advisory offering, will enable the firm to meet client demand for assistance in this space.

“Clients rightly expect up-to-the-minute, innovative advice, and we are thrilled Nisha and Matthew are joining Ashurst Risk Advisory. Their experience and approach to advising on complex regulatory matters and in managing financial crime risks deliver on this, and tie in perfectly with our existing international financial regulatory and contentious financial services capabilities.

“The new UK business and the wider financial regulatory practice will also benefit greatly from the arrival of Matt, with his strong track record in designing and implementing innovative data-driven solutions to support clients. His relocation from Sydney to London also helps to reinforce the links between Australia and our finance.”