Avy Mallik Joins Morrison Foerster as New Partner in Financial Services Group

Morrison Foerster, a prominent global law firm, has made a significant addition to its team with the announcement of Avy Mallik's arrival as a partner in its Financial Services Group. Mallik previously served as the General Counsel for the California Department of Financial Protection and Innovation (DFPI) and brings with him a wealth of knowledge and experience in financial regulation, particularly in the realm of fintech and digital assets law.

A New Chapter for Morrison Foerster

Mallik's appointment is particularly timely as California stands on the brink of major changes in financial regulation, with the upcoming licensing requirements mandated by the state's Digital Financial Assets Law set to take effect in 2026. Jeff Silberman, co-chair of the Financial Services Group, remarked on Mallik’s expertise: “Having led the implementation of California's landmark Digital Financial Assets Law, Avy's deep understanding of fintech regulation and consumer financial services will be invaluable as we navigate the complexities of this rapidly evolving sector.”

Moreover, Jeremy Mandell, another co-chair of the Financial Services Group, echoed these sentiments, highlighting that Mallik’s experience significantly bolsters the firm’s capabilities in the West Coast financial regulatory landscape.

Mallik's Impressive Background

During his tenure at the DFPI, Mallik acted as the primary legal and policy advisor to the California Governor's Office and other senior leadership. His role included overseeing crucial DFPI divisions that encompass legal matters, securities regulation, and the supervision of digital assets and investment advisers. Notably, he played a vital part in managing the DFPI's response to the liquidation of a California bank that primarily catered to the technology and venture capital sectors, focusing on the contagion risk that could potentially ripple through the banking industry.

Before his pivotal role at DFPI, Mallik was the Director of Fintech Policy for the U.S. House Financial Services Committee, where he was instrumental in legislative initiatives concerning fintech, AI, and digital assets. His extensive track record includes drafting federal legislation on stablecoins, demonstrating his influential presence in the sector. He also previously served as an Assistant Attorney General in Maryland, specializing in consumer protection.

Regarded as a thought leader, Mallik frequently shares his insights on legislative issues through writings and speaking engagements. His ability to communicate complex topics to various stakeholders will undoubtedly enhance Morrison Foerster’s reach and effectiveness in the financial services domain.

A Commitment to Growth

Mallik expressed excitement about joining Morrison Foerster during such a dynamic period for the financial sector, emphasizing his eagerness to assist clients in navigating the intricacies of both state and federal financial regulations. As the demand for legal guidance in these areas continues to grow, his expertise is anticipated to make a significant impact on the firm’s clientele, particularly those in the Bay Area and beyond.

Since June 2025, Morrison Foerster has welcomed several partners to its Financial Services and Fintech sectors, including Alexandra Steinberg Barrage and Matthew Bornfreund, which underscores the firm's commitment to strategic growth. The firm’s ambition to expand its capabilities in fintech law aligns with the increasing complexity and rapid evolution of financial technologies, reinforcing its position as a leader in this field.

Conclusion

As Morrison Foerster continues to evolve and adapt to changing market dynamics, the addition of Avy Mallik marks a promising new chapter for the firm’s Financial Services Group. With his extensive background in regulatory matters and fintech law, Mallik is poised to be a strategic asset, enhancing the firm’s ability to serve a growing array of clients in one of the most rapidly changing areas of law today.