WE OFFER A SELECTION OF KEY DEVELOPING TRENDS FROM LAST MONTH
Axiom Ince implodes as teams of lawyers leave for other firms, the SRA suspends key leaders and the police begin investigations
It is expected that Axiom Ince will cease trading. Its managing partner and 2 others have been suspended by the Solicitors Regulation Authority for failure to comply with accounts rules and the Metropolitan Police has started an investigation.
Following this, the firm has suffered a series of large-scale team exits. Horwich Farrelly has taken on more than 30 Axiom Ince lawyers including 10 partners, to be based in Leeds, Scotland and London, focused on a range of disciplines including aviation and marine. Birketts brought in 7 marine and marine insurance claims specialists for its international trade team, 9 lawyers were recruited by Greenwoods Legal in tax, trusts and private clients, and 17 shipping and insurance lawyers left for the London office of Wikborg Rein, the Norwegian firm. Acuity Law have hired 3 immigration lawyers and Irwin Mitchell 7 regulatory lawyers (including 2 partners). Previously Mezzle and RPC have also taken on teams in Birmingham and London respectively.
Before its collapse, Axiom Ince had over 1,300 people in a series of locations across the UK.
Developments in the Scottish legal market; and a London firm opens its own PR and communications agency
Scottish firms Morton Fraser and MacRoberts announced a merger, to take effect on 1 November, creating a combined firm of approximately £46m in annual revenues and 250 lawyers. It will be the 3rd largest independent firm in Scotland and be called Morton Fraser MacRoberts.
Irwin Mitchell entered into an agreement with Scottish independent firm Wright Johnston & Mackenzie for Irwin Mitchell to offer its legal and financial services to Wright Johnston clients. Other recent developments in Scotland include Freeths’ opening in Glasgow.
Meanwhile, proposed government reforms to update the regulation of law firms in Scotland have been criticised by a number of firms, notably Pinsent Masons, Burness Paull and Lindsays, as well as the Law Society of Scotland. The changes propose a new regulatory body for lawyers in Scotland in which the government would have a direct role.
Schillings has set up its own PR and communications agency in support of its media work, by hiring 2 senior PR and communications professionals as partners in the new venture.
