General counsel | The Hongkong and Shanghai Banking Corporation (HSBC)
Amit Moghay
General counsel | The Hongkong and Shanghai Banking Corporation (HSBC)
If you had to give advice to an aspiring in-house lawyer or general counsel, what would it be and why?
The role of an in-house lawyer has undergone a paradigm shift. An in-house lawyer must act as a partner, specifically a strategic partner, who can assist the franchise in navigating the entire gamut of its operations. Handling complex M&A transactions, contentious regulatory or geopolitical matters, cross-border issues, risk management, reputational risks, and future-proofing the organisation for sustainable growth are just some of the facets that an in-house lawyer deals with on an almost daily basis. In addition, they must face the challenge of dealing with technology and innovation-related opportunities, ethical data use, artificial intelligence, and the responsible use of social media. The dimensions in which an in-house lawyer can contribute are limitless.
The use of technology, in relation to data analytics, digital onboarding, and digital execution, is one of the many innovative solutions that have changed how interactions with customers have become more streamlined. This not only acts as an enabler but can also be a customer service proposition that creates a differentiating factor in the way a customer-centric industry operates. Some of the notable mandates that the team has been instrumental in include the acquisition and integration of an asset management businesses, the establishment of private banking business and entering strategic partnerships to tap into growing business opportunities across the country.
My advice to any aspiring in-house lawyer or general counsel would be to stop thinking of themselves solely as lawyers. While this may sound staggering to some, to me, it is the key change that needs to be made by any professional in order to contribute to the dynamic business needs more effectively. Given the unique skill set that lawyers are inherently trained in and possess, they can critically analyse situations, think of possible scenarios, identify solutions, and be an objective party that provides commercial, forward-looking, and practical advice to the management which not only enables sustainable growth but also safeguards the long-term interests of the franchise. This is a win-win situation, as it not only enables growth for the franchise but also provides a greater sense of purpose to the in-house lawyer, enabling them to grow both professionally and personally.
General counsel | HSBC