International law firm Addleshaw Goddard has appointed Tess Kelly, former Bank of England Deputy General Counsel to expand its financial services regulation team. The appointment of Tess Kelly will play a significant role in shaping and targeting the financial services offering on the Financial Markets side of the Financial Regulation Team. The appointment follows the recent appointment of James Greig to the UK Financial Services Regulatory team and expansion of our international capability with the appointment of Jeanne-Marie Moriarty to Financial Services Regulation partner in Dublin and Marco Zingler in Frankfurt.

Rosanna Bryant Head of Financial Services Regulation at Addleshaw Goddard commenting on the appointment of Tess Kelly said:

“We are extremely excited to welcome Tess to our Financial Services Regulation practice. Tess offers a unique and broad-ranging financial services regulatory and transactional expertise acquired from a decade at the Bank of England. Tess' arrival enhances our team's capability to continue to support our UK and international Financial Services client base on financial services regulatory requirements, particularly in the wholesale banking and financial markets space." 

As Deputy General Counsel, Tess Kelly advised the Governor and Executive of the Bank of England and the Bank’s Prudential Regulation, Financial Policy and Monetary Policy Committees. Prior to her time at the Bank of England, she practised at Allen & Overy LLP and Slaughter and May.

Tess Kelly speaking on her appointment to partner at Addleshaw Goddard said:

“I am delighted to be joining Addleshaw Goddard’s growing Financial Services Regulatory practice. It’s an exciting time to join the firm given its intention to grow its City profile and the continuing expansion of the firm’s international footprint. I look forward to using my experience and regulatory insights to support our clients during a period of significant change and innovation in the financial services sector.”

Tess offers unparalleled insight into the “regulator/Whitehall” perspective on law, policy making and firm supervision. In relation to banks and building societies, she has experience of various aspects of the UK’s prudential capital and liquidity regimes, stress testing, operational resilience, access to central bank liquidity and the UK and EU recovery and resolution regimes for firms in financial difficulties, including restructuring. She advised extensively on the implementation of the post-Brexit regulatory regime for clearing in the UK as well as the development of prudential regulation in relation to systemic payment systems. In the field of crypto-assets, she has expertise on the emerging regulatory regime for stablecoin and the proposal for a UK digital pound.