Large-scale Brexit and regulatory reorganisation project for a leading international bank

Client challenge

Our client—a leading international bank—needed to undertake a large-scale Brexit and regulatory reorganisation which included the restructuring and migration of its finance and corporate lending platforms to continental European businesses. The Bank required clear, concise due diligence to address complex legal and strategic issues and an efficient and scalable implementation programme to achieve its internal strategy during the Brexit process. Because of political and regulatory uncertainty, it was essential that the Bank's legal advisers could respond to quick turnaround times and were adaptable to changing deadlines.

Our solution

Our Global Loans legal team and Ashurst Advance team worked together to review hundreds of sophisticated financial instruments and implemented a migration process allowing the Bank to achieve compliance before the legislative deadline. The project required coordination across 11 jurisdictions and included eight Ashurst offices and three local counsel working across four time zones. Our team was scaled up and down as needed to respond to workflow requirements in line with the Bank's need for flexibility.

The Global Loans legal team developed a bespoke due diligence report and a suite of transfer documents and completion agendas. They provided training on due diligence requirements and transfer documentation across all jurisdictions to ensure quality control and oversight throughout the project.

Using AI-powered document review, the Ashurst Advance delivery team undertook a first level review of all documents (with a second level review performed by the legal team) and provided a legal project management team to coordinate workflows, track the status of all due diligence reports and transfer documents, and provide the Bank with accurate and comprehensive real-time reporting.

Client benefit

The integrated solution developed by our legal and NewLaw experts enabled the Bank to successfully restructure and transfer its diverse, multibillion-pound lending platforms ahead of Brexit compliance deadlines. We met the Bank's due diligence and transfer requirements while ensuring the highest-quality legal service was delivered.

The use of Ashurst Advance's delivery, project management and digital expertise and capabilities was pivotal in enabling a successful solution and driving cost efficiency, fast turnaround times, and transparency through impactful reporting for the Bank, and ultimately increasing our client's confidence of successful Brexit migration.