Jorma Yli-Jaakkola to lead Lexia’s Finance and Insurance Law and Fintech practices
October 6, 2020
- Jorma Yli-Jaakkola, the new head of Lexia Attorneys’ Finance and Insurance Law and Fintech practices, is a seasoned legal and business professional with experience of working in both Helsinki and the City of London. Yli-Jaakkola joins Lexia from Borenius Attorneys Ltd.
- Financial and fintech companies are facing increasingly complex regulation with the growing role of data protection rules.
- Yli-Jaakkola believes that the old operating models of law firms are no longer enough to meet clients’ needs.
Lexia has invited Jorma Yli-Jaakkola (LLM, EMBA) to join the firm as a partner. He will head Lexia’s Finance and Insurance Law and Fintech practices.
“Regulation will only increase in the future. The financial sector is much better prepared for compliance than many other industries. Regulatory requirements are getting tougher, but so are the sanctions. Companies’ top executives will need to sharpen their focus”, Jorma Yli-Jaakkola explains.
“Lexia’s vision of the future of the legal profession matches my own. Clients’ requirements have changed, and the industry’s old operating models are no longer enough”, he adds.
Lexia was won over by Yli-Jaakkola’s strong business know-how and varied experience in both Finland and the international arena.
“Finance and fintech are strategically important fields for Lexia. As in all areas of law, Lexia knows not only the legal complexities but also the business and is capable of building partnerships with its clients, anticipating risks and identifying opportunities. Our service model is based on assuming full responsibility for all legal matters, which gives our clients’ management peace of mind”, says Lexia’s CEO Samuli Koskela.
Yli-Jaakkola has built a long career in the financial markets. For example, he spent almost 14 years at Euroclear, working in both Helsinki and London in a number of important roles, such as Director, Legal Division and Head of CEO Office. Yli-Jaakkola joins Lexia from Borenius Attorneys Ltd.
Financial regulation has changed rapidly over the past few years. The EU’s financial services directives have forced banks to open their doors to new, agile fintech companies. Clients are looking for a more and more personalised user experience, while information security and data protection have become critical considerations for all businesses that handle customer data.
Heightened trade policy tensions are an added headache for Finnish fintech companies. Although these tensions have not yet translated into new regulations, the rivalry between nation states and world powers brings with it a risk of regulatory fragmentation. Meeting tomorrow’s regulatory needs therefore requires stronger and stronger international networks and a proactive approach.
“This kind of turmoil creates exciting growth opportunities for fintech companies. Companies that foster a culture of compliance can turn their ability to offer better services that customers can trust and want to use into an advantage. Regulatory compliance is not just a burden but also a chance to stand out from the competition”, Yli-Jaakkola says.
Samuli Koskela, CEO, Partner, tel. +358 40 588 8323, firstname.lastname@example.org
Tuija Hirvonen, Communications Specialist, tel. +358 40 136 6711, email@example.com