International law firm Ashurst has hired partner Scott Charaneka from an Australian firm to start a pension offering offering legal, regulatory and risk expertise to advise clients on Australia’s $3.3 trillion pension industry Australian dollars (2.4 trillion US dollars).
Charaneka, who comes from Thomson Geer, has nearly three decades of financial services experience and advises some of the largest industry and public sector pension funds in the country, Ashurst said. His experience spans licensing and licensing, governance, compliance and administration, disclosure, investments, mergers, and regulatory investigations and litigation.
Ashurst said its new retirement capability will build on the firm’s existing offering to financial services clients, providing advice on regulation, tax, insurance and corporate governance.
“Our pension legal experts work closely with Ashurst’s pension and wealth management team within the company’s risk advisory practice, which itself continues to grow rapidly,” the company said in a statement.
Australia’s pensions industry has seen strong growth in funds under management, but is also subject to rapid consolidation, with the government pressuring smaller funds to merge.
“Ashurst’s retirement offering will help funds manage a wide range of legal issues and risks in this time of industry concentration, including advice on fund mergers, asset acquisitions and divestitures. , regulatory investigations and litigation, sustainability and performance, regulatory change and compliance and risk transformation,” the firm said.
Thomson Geer declined to comment on this decision.