Four years on and the affects of the global financial crisis remain deep yet uneven. In Australia, regulation is in the spotlight and the market is characterised by significant deleveraging and tighter credit conditions, which is contrasted with the rise of Islamic finance and gigantic investment with the energy and resources sector. The market has also seen greater demand for innovation and competition within the wholesale and retail banking sectors, as Australia attempts to be a global financial services centre and the government attempts to introduce a “fifth pillar” of banking competition.
From Australia’s most complex corporate restructure to Shariah compliant commodity financing and the first retail bond issue for an Australian bank, King & Wood Mallesons is at the forefront of market innovation and has been helping clients adjust and take advantage of this new market reality through a number of award-winning deals and industry firsts. Our leading role in the market is evidenced by our recent work for both Australian and international clients to develop Australia’s covered bond market, in response to recent changes in government policy.
"King & Wood Mallesons still sets the barometer for every banking team in Australia." IFLR 1000 2012