Anglo Australian law firm Ashurst has added two new partners as it plans to expand its global consulting business by opening a risk advisory unit in the UK.

Ashurst Risk Advisory is being led by a three-partner team, including the two new arrivals – financial crime expert Matthew Russell, who joins from PwC, and regulatory specialist Nisha Sanghani, who joins from boutique consulting firm Rosediem. 

They are joined by Ashurst partner Matthew Worsfold, who is relocating to London from the firm’s Sydney office. Worsfold is one of the founding members of Ashurst Risk Advisory and leads its data and analytics practice. The new UK risk business adds to the firm’s Australian consultancy arm that it launched in 2020.

Jamie Ng, global head of Ashurst Risk Advisory, said: “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. 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.”

Ng added that banks and investment firms are also seeking more guidance around crypto markets given the rapidly shifting regulatory environment. The global risk advisory business covers financial regulation, workplace health and safety, ESG and sustainability, data and analytics and cyber and strategic risk.

Paul Jenkins, Ashurst’s global CEO, 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.”

Russell joins the UK risk advisory business after almost 11 years at PwC where he was a partner in its forensic services division. He was previously UK head of anti-money laundering (AML) services at KPMG and before that head of AML and sanctions at Barclays. Sanghani, meantime, spent almost a decade as CEO and managing director of Rosediem, having previously been a risk consultant at KPMG.

Ashurst has consistently flagged the strategic importance of its consultancy arm and earlier this year extended its reach by forming an alliance with Aurecon, an Australian company offering design, engineering and advisory services.  

Unveiling a strong set of financial results in July, Global CEO Paul Jenkins said revenue for its consultancy business had grown by 190%.

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