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Philip Richards


Philip is a corporate partner based in London.





Philip has worked on many of the more complex and intensive transactions in the financial institutions sector, and has a real understanding both of the particular legal challenges that deals in this sector bring, and of the commercial drivers of these businesses.

Philip focuses on mergers and acquisitions, governance and other corporate advisory and transactional work for a wide range of financial sector clients, in particular with banking insurance/reinsurance, and financial infrastructure clients, as well as for private equity investors.
Philip spent four years in Milan as one of the two managing partners for our Italian offices, during which time he maintained his transactional practice, advising on a number of cross-border deals and investments for investment banks, corporates and private equity firms.

Philip established and led our financial institutions group for many years, advising on a number of significant transactions in the sector. A selection of transactions includes the introduction of corporate capital to Lloyds of London; the merger of Scottish Widows with Lloyds TSB; the merger of Scottish Amicable with Prudential; the demutualisation of AMP; the takeover of Henderson Investors by AMP; the take over of M&G by Prudential; and the sale of M&G Re by Prudential to Swiss Re. In addition to this, Philip acted on a number of contested and recommended deals in the electricity and water sectors, for clients in the forest products and for private equity and other investment funds.
He continues to act on a wide range of financial institutions and other M and A transactions and is listed as a ‘leading individual’ in insurance by Legal 500.

Recent deals/Highlights

  • The acquisition by the London Stock Exchange group of a majority interest in LCH Clearnet, of the remainder of the shares in FTSE and on its proposed merger with the Toronto Stock Exchange.
  • Swiss Re on its acquisition of the UK business of Metlife
  • Evercore Partners Inc. on its acquisition of The Lexicon Partnership LLP


Insurance Team of the Year 2009

Career to date

Philip joined the firm from University in 1978 and became a partner in 1987.  

Qualifications and education

Philip read law at Lincoln College, Oxford


English and Italian

  • London

  • 65 Fleet Street
  • London EC4Y 1HT
  • T +44 20 7936 4000
  • F +44 20 7832 7001

    Direct line
    T +44 207 785 2221
    F +44 207 108 2221

  • philip.richards@freshfields.com
  • vCard (Download Philip's contact details)
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