London

Established in 2006, Promontory Financial Group (UK) Limited’s (PFG/UK) London office was the firm’s first European location. The office is in a prime financial market - a single square mile in the heart of London accounts for 2% of of the UK’s GDP. This concentration of economic activity makes London an important market in its own right. In addition, London’s proximity to financial centers in Europe, Africa and the Middle East allows Promontory to springboard into these fast-growing markets.

Michael Foot is the Chairman of PFG/UK. A veteran of nearly four decades in financial services, Mr. Foot joined Promontory from the Central Bank of The Bahamas, where he was Inspector of Banks & Trust Companies. From 1998 to 2004, Mr. Foot was a Managing Director of the Financial Services Authority, the UK’s centralized regulator of banks and investment companies (FSA). Prior to his services at the FSA, Mr. Foot served at the Bank of England for 29 years, in a number of posts of increasing responsibility, including head of the European and Foreign Exchange Divisions.

Mr. Foot and others on Promontory’s team of London-based experts maintain strong connections at the FSA and its global counterparts. Our London team has a particularly strong track record in designing and implementing anti-money laundering compliance frameworks and related training programs. They are also highly skilled in addressing both cross-border issues and domestic UK matters. Their diverse portfolio of work has included:

• Assisting clients with addressing and resolving issues related to sanctions.
• Creating highly customized compliance training programs for major financial institutions.
• Conducting risk assessments for licensed companies.
• Performing due diligence work for prospective acquirers.
• Reviewing and recommending improvements in corporate structure and licensing arrangements.