Expert Industry Advisor
Pete Larsen brings more than fifteen years of experience as corporate in-house, litigation-management across the country involving banks and financial institutions, commercial real estate law, title, commercial leasing, and litigation related to residential, multi-family and commercial real estate.
Prior to joining FLI, Pete served as Associate General Counsel for a premier commercial real estate and loan and financial advisory services company, Situs. He primarily supported Situs’ loan-servicing and special servicing business units, providing legal expertise within commercial the commercial mortgage servicing industry, including servicing and securitization.
His responsibilities also include complex contract preparation and negotiation, litigation-management, banking and finance, legal department management, mergers and acquisitions, risk assessment and insurance.
In October 2011, Mr. Larsen was the lead attorney on the purchase of loan servicing rights of approximately 9.7 billion Euros, more than doubling the company’s European assets under management at that time.
The existence of the London Inter-bank Offered Rate (LIBOR) is coming to an end soon in 2021, as decided by the Financial Conduct Authority (FCA) in 2017. It is important to investigate the current status of the transitioning process, how the financial services are adjusting to the changes and other key challenges out there.
In 2015 a study made by FIS found that only 23% of customers believe their banks are fulfilling their expectations. Now, in the COVID-19 era, a recent survey conducted by PwC shows that even though consumers are happier with the banking services provided, the new risks of the industry are competitors and mostly non-traditional competitors. In fact, KPMG has stated that banks are encouraged to use channels that haven’t been prioritized in the past.
Starting with 1990, digitalization has been a constant in the financial industry. This trend that continues to grow is driven by new customer expectations. When today's consumer evaluates financial services, they don't compare banks anymore. They compare experiences. Thus, banks adopted new technologies to improve their services, and create smarter digital service offerings.
With a digital-first focus, the banking game has changed, as shown by the new disruptive proposals that appear in the industry. The latest of which, is virtual banking.
The Omnibus Law on Job Creation (Undang-Undang Cipta Kerja) was approved by the Indonesian House of Representatives (DPR) earlier this month. This bill is one of the key priorities of the Jokowi administration. With the amendment of 76 existing laws, it is aimed at reducing bureaucracy and boosting investment in the country.
With the passing of the Omnibus Law, Indonesia is now awaiting the technical regulations to implement the momentous statute. The law introduces high-level changes to the country’s business regulatory framework, serving as a major step towards boosting the Indonesian economy and the recentralisation of government power. The amendment of thousands of articles within 76 existing laws will create a far-reaching effect throughout all industries in Indonesia.
Expert Industry Advisor
Pete Larsen brings more than fifteen years of experience as corporate in-house, litigation-management across the country involving banks and financial institutions, commercial real estate law, title, commercial leasing, and litigation related to residential, multi-family and commercial real estate.
Prior to joining FLI, Pete served as Associate General Counsel for a premier commercial real estate and loan and financial advisory services company, Situs. He primarily supported Situs’ loan-servicing and special servicing business units, providing legal expertise within commercial the commercial mortgage servicing industry, including servicing and securitization.
His responsibilities also include complex contract preparation and negotiation, litigation-management, banking and finance, legal department management, mergers and acquisitions, risk assessment and insurance.
In October 2011, Mr. Larsen was the lead attorney on the purchase of loan servicing rights of approximately 9.7 billion Euros, more than doubling the company’s European assets under management at that time.
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Whatever your industry, connect with a member of our cross-border team today. We’ll take care of the rest.