Corporate and commercial
Praised by clients for its 'broad ranging capabilities and deep expertise', CMS' financial services regulatory practice works with a range of financial services clients, both wholesale and retail, including retail lenders, consumer credit providers, insurers and intermediaries, investment funds, fintech and digital asset firms, payment service providers and wholesale market participants. Practice head Ash Saluja draws on his deep experience in the full gamut of regulatory and commercial matters, for both the sell side and buy side. Adept in outsourcing matters is Angela Greenough, whose practice extends to complex commercial contracts and operational resilience aspects of matters. Sam Robinson is a key contact for banks, asset management firms, and broker-dealers in matters involving payments and fintech. Insurance specialist Pippa Tasker is equipped to handle insurance distributions, unregulated funds, cross-border business, and asset management regulation. Simon Morris leverages decades of experience in market conduct and governance work to guide financial institutions through regulatory authorisations. Joy Davey is a go-to adviser for outsourcing requirements and operational resilience requirements. Tom Callaby is a key contact for buy and sell-side firms, advising on M&A, securities, derivatives, and complex commercial transactions. Paul Edmondson remains an important contact within the group.
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Profile
Position
Partner
Career
Ash Saluja has over 20 years of experience advising clients on regulatory and commercial matters.
Clients include banks, broker-dealers, funds, investment managers and advisers, exchanges, platforms and trading facilities, insurers and insurance intermediaries, as well as the large corporate/pension fund clients and suppliers of these types of institutions.
Ash advises on the authorisation and conduct of business requirements, corporate governance, regulatory capital, client money and assets, product design and distribution, cross border business, insider dealing and market abuse, anti-money laundering requirements, as well as the regulatory aspects of mergers and acquisitions, restructurings, joint ventures and outsourcings.
Memberships
- TISA Client Assets Sub-Committee
Education
- 1996 – LPC, Nottingham Law School, Nottingham
- 1995 – LLB (First class hons), University of Manchester, Manchester
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Testimonials
Collated independently by Legal 500 research team.
‘Tom Callaby has been a solid partner to our business as we have been working to build this within the UK. He has appropriately connected us to other experts in different areas of domain expertise across CMS in London and equally around the globe. He has always been able to appropriately direct our queries and arrive at a conclusion that delivers for the business.’
‘Large multidisciplinary financial services regulatory practice with specialisms in insurance, asset management, wealth management, pensions, fintech/crypto, ESG, outsourcings, cross-border regulation and more. Has both breadth and depth in order to manage larger multi-faceted projects and smaller discrete technical advice.’
‘Angela Greenough is a specialist in regulatory analysis of complex organisational and technical set-ups. Very commercial and knowledgeable of the internal workings of financial services organisations. Pippa Tasker has knowledge of a broad range of technical FS regulations, very responsive and pleasant to deal with.’
‘Huge team with extremely broad-ranging capabilities and deep expertise.'
‘Angela Greenough is extremely approachable, practical, and generous with her time. There’s nothing about regulated outsourcing that Angela doesn’t know, but she also has wide-ranging industry experience and is always happy to hop on a call to help solve a problem or connect you to someone who can. Joy Davey is another rising star within Angela’s team and is likewise incredibly approachable and client-friendly, with formidable outsourcing expertise. Philippa Tasker also deserves a mention as a highly pragmatic and client-friendly lawyer with deep financial services regulatory expertise. Always very up-front and transparent with their billing and matter oversight; no unpleasant surprises here!’
‘Quick to hit the ground running and always at the end of the phone.’
Key clients
- Legal and General
- Morgan Stanley
- Phoenix Group
- Visa
- Aviva Investors
- Met Life
- Aegon Asset Management
- American Express
- Columbia Threadneedle
- Willis Towers Watson
- Fidelity
- Binance
Work highlights
Advising Phoenix Group on its agreement with Schroders to form Future Growth Capital, the first private market investment manager to be established in the UK to promote the objectives of the Mansion House Compact.
Advising United Trust Bank (UTB), on the regulatory and prudential aspects of a recently announced transaction in which Warburg Pincus acquired an equity interest in UTB, valuing the bank at approximately £520 million.
Advising Archax on products including tokenised securities trading and custody arrangements and the creation of a tokenised representation of uranium using the Tezos blockchain.