About

In March 2018, Gary Segal started his current role as senior legal counsel, global banking at HSBC Bank Australia. His in-house career experience is relatively recent but he carries with him an impressive private practice career at top international law firms in Australia. In his new role, Segal identifies that his proudest achievement is ‘helping the Bank execute a number of difficult transactions, particularly those that are the first of their kind (there have been a few during my short time at HSBC) where strong legal support (internally and also in terms of engaging with external counsel) is instrumental in helping a transaction progress – where the interplay between commerciality and an acute awareness of the legal issues is paramount’. One that stands out is the £2bn loan facility, including a £500m facility to finance green projects, which was the first facility of this kind in Australia and adopted the Green Loan Principles published by APLMA. HSBC was a mandated lead arranger or book-runner on this deal, and it won Syndicated Financial Institution Deal of the Year and Sustainable Deal of the Year at the Asia Pacific Syndicated Loan Market Awards. Segal identifies that among many trends within the in-house market staying relevant in terms of technology, the regulatory landscape in Australia, and the improvement of non-legal skills are vital. Technology, in particular, will transform the role of lawyers, according to Segal. He highlights that the ‘automation of documentation, advances in AI, smart contracts, blockchain, [and] digital execution are all areas which I believe will rapidly develop over the next few years and it will be very important to not only be aware of these changes but also to be open and ready to embrace them’. Segal also highlights the changing regulatory landscape in Australia, saying that ‘in a post Royal Commission, BEAR world, being an in-house lawyer for a financial institution will continue to change with the businesses that we support being more aware than ever on conduct, accountability and responsibility and as risk stewards this will no doubt have (and already has) an impact on our day-to-day responsibilities’. To continue to grow and take that next step in house, Segal continues, ‘I will most certainly need support and a level of mentorship from senior lawyers and colleagues within the businesses (locally and regionally). On the legal side, a lawyer cannot forget his or her roots and we need to make sure we continue to develop and strengthen our legal skills and this will come from having constructive relationships with senior lawyers and always having a willingness to learn and accept when you are wrong. As noted above, developing business, financial, and non-legal skills will only come from partnering with the business and putting in an effort to grow those relationships and develop trust – both ways. Being trusted and brought into a deal early and being involved during the whole lifecycle of a transaction is the best kind of support on the commercial side’, he states.