Banking

Retail and Commercial Banks

We work with UK and international retail and commercial banks. The retail and commercial banking sectors continue to evolve to meet consumer and regulatory expectations and maintain resilience. Whether an established high street bank, an emerging challenger bank or the UK entity of an international bank, they need to remain focussed on:

  • Meeting and enhancing customer / consumer expectations.
  • Keeping up with regulations and maintaining compliance.
  • Managing the range of risks they face – strategic, credit, market, operational and reputation.
  • Building and maintaining a team of people with the right knowledge, skills, capabilities and behaviours.
  • Increasing revenues whilst optimising costs to maintain financial performance.

It’s important firms maintain awareness and flexibility against the backdrop of sustained regulatory focus and substantial penalties and fines.

Private Banks

Private banks dealing with high net worth individuals (HNWIs) face regulatory complexity in addressing both banking / deposit taking rules and capital requirements, as well as investment management rules.

All firms working with retail customers (including HNWIs) and those who manufacture products or funds for distribution to retail investors can expect Consumer Duty scrutiny.

Similarly, private banks and others working with Appointed Representatives (ARs) will need to demonstrate active and effective oversight of their AR networks.

If firms are engaging with regulators, looking to review existing frameworks or undertaking remediation, we work with them to ensure that their systems and controls are adequate, effective and sustainable.

Custody Banks

Custody banks provide the essential infrastructure for safeguarding assets and executing settlements across the global financial system. However, as transaction volumes and technological complexities increase, these institutions face an operating environment defined by intensifying regulatory scrutiny. For custodians in the UK market, maintaining secure client asset protection while optimising efficiency is paramount.

UK custody services are subject to rigorous joint oversight by the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA). Navigating the stringent Client Assets Sourcebook (CASS) – alongside evolving mandates for operational resilience, third-party risk, and digital asset custody – demands meticulous governance. Regulators increasingly expect firms to demonstrate a proactive, risk-aware culture that anticipates market shocks and protects consumer interests.

Our regulatory compliance expertise provides the strategic foresight to navigate this landscape. We partner with custody banks to stress-test and refine their frameworks and operating models, ensuring CASS compliance, robust sub-custodian oversight, and the seamless integration of new directives. By transforming compliance into a strategic advantage, we empower custodians to safeguard their market reputation and secure enduring institutional trust.

Investment Banks

We work with Investment Banks, supporting clients of all sizes across their primary and secondary market activities. We provide advisory, assurance and project management services. Our work includes:

  • Strengthening trading controls.
  • Managing an IPO, bond issue or other capital raising project.
  • Implementing a surveillance infrastructure.
  • Improving the approach to the management of conflicts of interest.

Our team works closely with firms to enhance their financial and non-financial risk frameworks as well as their compliance capabilities. We provide resourcing and advice on their policies, procedures, systems and controls. We also advise clients on their governance models, operational resilience and CASS controls.

Our Approach

Our clients include banks that are looking to enhance their business performance and operating models, improve the efficiency of systems and controls and develop and empower their teams. We also work with banks that have had control breakdowns and/or issues that need to be managed and remediated. When working as part of a regulatory review, we work with the bank and the regulator to remediate the issues and get the organisation back to where it needs to be. We combine our experience in risk, compliance, governance, culture, operations, technology and audit with industry knowledge to support firms in a way that is practical, aligned to their business strategy and adds value. We have helped banks with:
  • Financial Crime compliance
  • Consumer Duty compliance:
    • Implementation With specific requirements on firms that engage in the retail markets and asset managers that manufacture instruments for distribution to the retail market;
    • Adequacy and effectiveness discretionary portfolio management arrangements Including stock selection, trade execution, investment research arrangements and ability to ensure that portfolios are constructed and managed in line with customer risk profiles;
    • Suitability and appropriateness Including the customer need analysis and targeting of products and services at onboarding and analysis and response to changes in customer circumstances; and
    • Fees and charges The reasonableness of the fees charged to customers and how they are communicated, from the marketing of services to the provision of customer statements.
  • Target Operating Model refresh
  • Operational Resilience and Third Party Risk Management (including Material Third Party requirements)
  • Oversight of ARs Banks working through AR networks will need to demonstrate and evidence effective control and oversight of their ARs. Firms are held responsible for the missteps of their ARs.
  • Custody and back office arrangements Both in terms of client money and asset arrangements and systems and controls for the processing of corporate actions, dividends and other administrative functions, critical to the administration of portfolios.
We can provide the support and advice banks need whether they’re embarking on a significant project, are subject to some element of specific regulatory scrutiny or are looking for an evaluation of their systems, controls or governance.