About our founder

Lorna Strong qualified as a barrister & solicitor in Canada in 1999 and began a career in corporate and banking law which brought her to London, UK in 2014. For the last ten years, she’s held the position of global lead legal counsel and Managing Director for HSBC Global Trade, a business that annually facilitates over USD740 billion of trade with access to 90% of all global trade flows. Lorna provided legal advice on trade & finance, financial crime compliance (including AML & sanctions), digital innovation, policy development, and risk management and played a lead role in the finance industry’s regulatory and policy debates on international finance, trade, and economic sanctions. 

As Deputy General Counsel at HSBC, she advised globally and managed and trained legal counsel in over 50 jurisdictions, advising HSBC globally on areas as diverse as trade finance, bank regulatory, economic sanctions, international disputes and crisis management, cross border and M&A transactions, digital transformation, and ESG financing.  

In 2024, Lorna left HSBC to join the LSE (the London School of Economics & Political Science), Finance Department, as Associate Programme Director of the MSc Law and Finance Programme and to set up Strong Consulting Group, bringing her expertise directly to corporates and the finance industry.  

She continues as a member of the ICC (International Chamber of Commerce), Banking Commission Legal Committee and is also a regular lecturer with the ICC, the Institute of International Banking Law & Practice, London Institute of Banking & Finance, and BCR Receivables Finance & Alternative Finance Forums.

For over 20 years, Lorna has mentored and coached individuals and teams in the financial and legal sectors, helping individuals and teams manage change, identify goals, and reach their full potential. She’s available for 1:1 coaching to support your individual or corporate goals. 

Areas of Expertise and Advisory

Lorna’s available for consultation, strategic projects, policy development & training, including in the following areas:

  • Trade & Supply Chain Finance

  • Bank Regulatory & Cross Border Jurisdictional Reviews/ Transactions

  • Future proofing & de-risking Economic Sanctions, AML, Financial Crime and Fraud

  • Digital Transformation & Innovation in trade finance

  • Policy development including benchmarking against industry compliance and legal standards

  • Managing / support for trade disputes, litigation & arbitration, including expert evidence

  • Managing trade finance transactions impacted by M&A and restructuring activities

Achievements

Lorna brings a standard of excellence and innovation to her work. Some of her recent achievements include the following:

  • Developed legal structure and documentation supporting trade finance risk distribution and balance sheet management which is now industry standard (ITFA – HSBC MARA – April 2024).

  • Digital Transformation & Fintech interface - key stakeholder in the development of multiple digital banking solutions as well as HSBC’s interface with 20+ third party fintech platforms (structure and legal documentation), including HSBCnet for Global Trade, HSBC Trade Pay, and platforms for receivables finance, digital merchant finance, and banking as service.

  • Strategic Management - Lead Legal advisor managing global crises, including trade finance transactions impacted by Economic Sanctions (Russia, Syria, Libya & more); Brexit; IBOR transition; and COVID

  • HSBC Standard Trade Terms - Developed, drafted and implemented the first online terms for trade finance at HSBC, fully standardizing terms and process globally in 50+ countries in multiple languages. Now recognized as the industry gold standard terms for core trade transactions.  https://www.gbm.hsbc.com/en-gb/standard-trade-terms

  • Blockchain/ DLT – supported the launch of the first financial trade block chain transactions on platforms we.trade and Voltron (now: www.contour.network) , including co-creation and integration of the underlying legal concepts of Smart (Legal) Contracts and Payment Undertakings.  

  • Financial Crime - Developed and globally implemented standard Financial Crime Compliance terms and guidance for all HSBC trade finance agreements and activities.

  • Driver of industry digitization in commerce, finance and trade:

    • UK Electronic Trade Documents Act – headed HSBC’s consultation submission.

    • E-bills of lading / e-bills of exchange - primary HSBC legal advisor for innovative trade finance deals including those using of e-bills of lading and e-bills of exchange. Joint ICC project counsel driving development and publication of Legal Status of e-Bills of Lading.

  • Regulatory Reviews - Developed & implemented global jurisdictional regulatory reviews for cross border trade financing activities:

    • Receivables Finance/ Supply Chain Finance & Reverse Factoring – 67 jurisdictions.

    • Demand Guarantee & Standby Letters of Credit issuance – 54 jurisdictions.

    • Trade Finance Risk Distribution & Secondary Market Trading – 30 jurisdictions.

  • Developed ESG trade finance products and documentation.

  • Global Guarantee Review Guidelines – created and implemented Guidelines for global operational and legal staff, leading to HSBC’s straight through digital processing of demand guarantees & standby letters of credit.