Payment services and fintech specialist boosts London financial services regulatory practice
19 March 2018
LONDON – Allen & Overy is pleased to announce the appointment of Ben Regnard-Weinrabe as a partner in its financial services regulatory practice in London.
At Allen & Overy Ben will work as part of the team led by Damian Carolan, head of the financial services regulatory practice in London, together with partners Etay Katz, Kate Sumpter and Nick Bradbury, and closely with a broader fintech group including Simon Toms. Ben joins Allen & Overy at a pivotal moment.
Payment services technology and regulation is rapidly evolving with over half of all payments in the UK now made electronically and the total value of cash payments forecast to fall by 23% to GBP185 billion in 2026, according to research from The British Retail Consortium and UK Finance, respectively.
Furthermore, the recast Payment Services Directive II came into force in January, marking a key milestone for payment services regulation, one of the pillars through which policymakers deliver the ‘bank of the future’ agenda.
Damian Carolan commented: “There’s a significant level of investment by financial institutions and other players being deployed to develop the next generation of technology supporting the transformation of the payments and banking market. Ben’s appointment bolsters our expertise in this exciting area and underscores our investment in the retail banking space, with last year’s hire of Joanne Owens, ensuring that we are strongly positioned to support our clients across the whole of the financial services regulatory waterfront.”
Philip Bowden, co-head of Allen & Overy’s global Banking practice, added: “Continued investment in our financial services regulatory practice is a priority. The frontier of financial regulatory developments is broader than ever, impacting a substantial proportion of A&O’s client base. Ben’s appointment goes beyond building the bench of our core regulatory team and gives us market-leading expertise in a whole new sphere of the financial market. We’re delighted to have him on board.”
For further information, please contact Rebecca Hooper, Rebecca.Hooper@allenovery.com, on +44 (0)20 3088 2152.