Global law firm Ashurst announces the launch of a market-leading superannuation offering, combining the very best legal, regulatory and risk expertise to support our clients in unlocking value and modernising operations in Australia’s A$3.3 trillion+ sector.
Adding to Ashurst’s capability in the wealth management space, the firm has appointed one of Australia’s leading superannuation lawyers, Scott Charaneka.
With almost three decades’ experience in financial services, Scott advises some of the largest industry and public sector superannuation funds in the country. His experience covers establishment and licensing, governance, compliance and administration, disclosure, investments, mergers and regulatory investigations and disputes.
Scott has been listed annually in Australia’s Best Lawyers in the categories of Regulatory Practice and Superannuation Law for the past decade and was awarded Superannuation Lawyer of the Year in 2022. He has been listed in Who’s Who Legal: Pensions & Benefits since 2015 and rated in Chambers Asia-Pacific since 2018 in the Superannuation category. He is also an author and editor of leading superannuation and insurance law publications.
Scott joins from Thomson Geer, where he was Head of Superannuation & Wealth Management from 2014.
Ashurst’s superannuation capability will build on the firm’s existing strong offering to financial services clients, providing advice across regulation, taxation, insurance and corporate governance. Scott joins the Ashurst financial services regulatory team, the largest top tier practice of this nature in Australia.
Our superannuation legal experts work closely with Ashurst’s superannuation and wealth management team within the firm’s Risk Advisory consulting practice, which itself continues to grow rapidly. Our integrated risk and legal offering is unrivalled in the professional services market and enables Ashurst to provide superannuation clients with end-to-end legal and consulting solutions to harness opportunities, navigate challenges and successfully execute their strategy.
Australia’s superannuation sector has experienced extraordinary growth in asset values, with an increasing focus on investing offshore. Concurrently, the sector is subject to rapid consolidation – driven by downward pressure on member fees, increasing member service expectations, rapid regulatory change and increased compliance costs. Ashurst’s superannuation offering will help funds navigate a wide range of legal and risk issues in this period of industry concentration, including advising on fund mergers, asset acquisitions and divestments, regulatory investigations and disputes, sustainability and performance, regulatory change and compliance and risk transformation.
Jamie Ng, global co-head of Ashurst’s Finance, Funds and Restructuring division and global head of Ashurst Consulting, commented:
“We are excited to expand our superannuation capability and are delighted that we have one of Australia’s top super lawyers, Scott Charaneka, joining our team. Scott is a trusted advisor to some of the country’s largest funds including AustralianSuper and Aware Super and his expertise will be invaluable at a time of considerable change and opportunity in the sector. Ashurst’s integrated superannuation offering draws on our legal-led consulting division, as well as other market-leading legal practices across the firm to provide an unmatched combination of expert legal and risk advice to the industry.”
Scott said:
“I am thrilled to join Ashurst, which has the sophisticated platform and global reach that can service the needs of superannuation funds as they consolidate and grow. The superannuation sector faces increasingly complex legal issues that require expert advice on financial regulation, corporate transactions, projects and disputes. I am excited by the opportunity to leverage Ashurst’s extensive capabilities across legal practices and its legal-led consulting team to become the number one source of advice for funds.”
