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Regulatory coup: Herbert Smith Freehills hires Deutsche Bank’s global head of compliance

In a major regulatory hire for Herbert Smith Freehills (HSF), the top 10 LB100 firm has hired Deutsche Bank’s global head of compliance, governance and regulatory affairs Andrew Proctor to join its global financial services regulatory practice.He is expected to join in June.

Prior to his position at Deutsche Bank, Proctor (pictured) was head of the enforcement division at the Financial Services Authority (FSA), now the Financial Conduct Authority, and has held senior positions at the Hong Kong Securities and Futures Commission as well as the Australian Securities Commission.

Proctor will advise HSF’s financial services clients, utilising his experience at Deutsche Bank to attract banks which find themselves under ever increasing regulatory pressure. He will advise on contentious and non-contentious matters and his hire sees the firm bulk up in the space left by financial regulatory lawyers Martyn Hopper – also a one-time FSA enforcement head – and Nikunj Kiri, who left for Linklaters last year.

‘This is a very significant strategic development for us,’ said Sonya Leydecker, global head of disputes at the firm and co-chief executive officer elect.

‘Having Andrew on board will add a unique level of experience and sophistication to our financial services regulatory capability. Andrew’s experience, standing, market insight and energy represent an opportunity for our growing financial services regulatory practice to develop and innovate our client offering in this important market sector,’ Leydecker added.