Parker Fitzgerald enters Australian market to assist financial services firms amidst increasing scrutiny

Parker Fitzgerald, the strategic advisor and consulting partner to the world’s leading financial institutions, today announces the opening of its new international office in Sydney, Australia. The company is also announcing the appointment of Jeremy Scott, formerly the Global Chairman of PwC’s Financial Services practice, to lead Parker Fitzgerald’s growing business in Asia Pacific.

Mr Scott, Vice Chairman of Parker Fitzgerald, has advised a number of the world’s largest financial institutions on a variety of strategic issues relating to corporate governance, regulatory compliance, culture and behavioural change over the course of his career.

This appointment comes amid heightened scrutiny of financial services in Australia following revelations from the Banking Royal Commission.

Parker Fitzgerald has specific expertise and extensive experience on the remediation and rectification of major conduct-led issues that require a transformation of a firm’s enterprise risk framework and underlying capabilities.

The firm is well positioned to help Australian financial institutions respond to the significant challenges in risk management identified by the Banking Royal Commission and Australian Regulatory Authorities, having helped multiple UK clients dealing with similar issues over the past decade.

Adding to its existing offices in London, New York, Singapore and Paris, Parker Fitzgerald’s new Sydney office will be located at 44 Market Street.

Jeremy Scott, Vice Chairman at Parker Fitzgerald, said:

“Since the emergence of revelations from the Banking Royal Commission, and the subsequent federal government’s announcement of larger fines and jail terms in April, the current crisis in public opinion is very familiar to those who have experienced the UK financial services industry over the last 10 years and, based on that experience, presages a period of remediation and significant change across Australian financial services.

“I am excited to help Parker Fitzgerald expand its international footprint and look forward to bringing the company’s global expertise to bear in the Australia market.”

Scott Vincent, Group CEO at Parker Fitzgerald, commented:

“We are very excited about the opportunities for Parker Fitzgerald in Australia and are confident in our ability to add great value to our clients in this region.

“Having supported many global financial institutions in the UK on similar issues of trust and integrity, we understand the approach firms should take to rebuild these vital components of their operating model and brand.

“The combination of relevant experience, knowledge of regulatory expectations, and our practitioner-led delivery model will be of significant value to our clients in Australia and ensure that they are able to prioritise effectively, invest wisely in remediation and accelerate desired outcomes.

“We are delighted that Jeremy has accepted this important role and we have every confidence that, under his leadership, Parker Fitzgerald will soon become a recognised force in the Australian consulting market as it has done in the UK and Europe.”