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Bakers bolsters City financial services and regulatory capability with hire of RPC team head Steven Francis

Boasting an extensive international network to push its financial services credibility, Baker & McKenzie is also extending its links with industry regulators with its latest City hire of RPC’s head of financial services and regulatory (FSR) group Steven Francis.

Francis (pictured), who established the FSR group at RPC, was formerly part of the management team of the Financial Services Authority’s (FSA’s) wholesale firms and markets enforcement division. He will join the top five Global 100 firm’s London financial services group.

While at the FSA, Francis, who is described by The Legal 500 as ‘commercially astute’ and ‘always willing to think outside of the box’ worked on insider dealing and market abuse cases, and rules and principles cases against large financial services institutions. He has extensive experience in Financial Conduct Authority (FCA) enforcement work, non-contentious FCA compliance advice, financial crime and corporate compliance issues.

With major US and UK firms seeing an increasing proportion of their instructions lean towards proactive and reactive internal investigations, Francis has previously undertaken – mainly for US-owned companies – a number of multi-jurisdictional compliance reviews and health checks to assure shareholders that the company is complying with all local laws and regulations.

‘Steven is an excellent addition to the team. His deep understanding of the financial services industry, together with his specialist knowledge of regulatory compliance and experience in-house at the FSA will be of huge benefit to our clients,’ said Arun Srivastava, head of the firm’s financial services group in London.