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Increase in cross-border insolvencies anticipated...

...Grant Thornton and Foley O'Neill agree new securities finance collaboration

Leading business and financial adviser Grant Thornton UK LLP has agreed a new collaboration with independent consultancy Foley O'Neill, which will see the two firms working together to offer specialist securities finance and collateral management consultancy services.

A well-established voice in the market, Foley O'Neill provides financial services organisations with specialist, independent solutions across a range of financial products, including securities finance, collateral management, foreign exchange and cash/treasury management. It is led by Bill Foley and Sean O'Neill, who each bring more than 25 years of market experience gained at some of the world's leading financial institutions.

The collaboration will see the two organisations working together to support financial services institutions across a broad spectrum of technical and strategic consultancy.

Bill Foley said: “We are delighted to announce this strategic tie up with Grant Thornton. Securities finance and collateral management continue to be hot topics in the sector, with the current rate of change unprecedented in the industry. The need for independent and informed solutions in this area has never been greater and was the reason that Sean O’Neill and I formed Foley O’Neill. To have Grant Thornton work with us and bring the strength of its reputation for excellence, experience and resources to this area is significant both for us and the industry. We look forward to working with Grant Thornton and delivering an excellent product offering to our clients."

Sean O’Neill added: “We are extremely pleased to be working with Grant Thornton. The firm's expertise and resources allow us to jointly accelerate the product offering and ensure that it's in line with client needs. Our Asset Deployment Diagnostic (ADD) has the capability to ensure clients are aware of changes required to remain compliant and make optimal use of their inventory."

Alex Woodhouse, partner and head of financial services business consulting at Grant Thornton UK LLP said: “We recognise that securities finance and collateral management has become an increasingly challenging and technically complex area for our clients. The shift of liquidity concentration to the buy side has meant CEOs are being forced to reconsider traditional paradigms. Accessing the subject matter expertise and experience offered by Foley O’Neill, paired with Grant Thornton's strategic insight and ever-growing footing in the financial services sector, allows us to build a compelling offering in this space and devise best-in-class solutions for our clients."