Following Eversheds Sutherland's launch in May of alternative legal services business Konexo, the new division has appointed as managing director Brett Aubin, who is a founder of Gordon Dadds Financial Markets LLP.

Aubin, who before Gordon Dadds was at Deloitte, will be responsible for leading and developing Konexo’s regulatory response managed services – focusing on LIBOR instructions and building on Konexo’s experience in large-scale managed services MiFID 2 and GDPR mandates in the financial services sector. He will help Konexo challenge an area traditionally dominated by the Big Four and heavily targeted by the new ALSPs and his appointment is with immediate effect.

He has over 18 years’ experience in city institutions (including Deloitte from 2012 to 2016) and his areas of specialism include managed services, alternative delivery mechanisms, change management and high priority governance, data, risk and control reviews.

Libor is being phased out as the index rate index at which banks lend to one another, resulting in an enormous repapering exercise by financial institutions, with a deadline of 2022. The routine and volume nature of the exercise means that financial institutions are looking for efficient, tech-led services and Konexo will provide managed legal services that aim to combine advisory and contract management project work. Aubin will work closely with financial services specialist lawyers at Eversheds Sutherland, to provide comprehensive multi-disciplinary support, including both legal and consultancy advice for clients.

He said in a statement: “I am very pleased to be joining Konexo, which is a really exciting proposition in the growing alternative legal services sector, where there is huge demand born of regulatory requirements such as the LIBOR transition. I look forward to bringing my experience in this area to bear as we evolve and grow our offering to meet the client need in the range of regulatory challenges facing the financial services sector.”

Konexo launched with the merger of three well-established teams at Eversheds Sutherland – ES Consulting, Corporate Secretarial and Insolvency – into a new division. It is targeting revenues of £100m. The appointment of Aubin is said to be the first in a number of planned strategic hires in the coming months.