Legal Business

BLM salaried partners forced to re-apply for roles as Clyde merger looms

BLM salaried partners forced to re-apply for roles as Clyde merger looms

Salaried partners at BLM will have to re-apply for their positions once the firm’s merger with Clyde & Co goes live on 1 July.

Subject to a consultation, the salaried partners at BLM will be automatically transferred to Clyde with the title of legal director, and then given three options. Aside from remaining a director, they can apply to become a salaried partner (this option is only open to the casualty insurance practice) or a full equity partner at the merged firm.

The salaried option being confined to the casualty insurance practice is because the vast majority of the practice will be staffed by legacy BLM lawyers, whose clients have historically prioritised value. Clyde did not comment on whether legal directors should expect a salary broadly consistent with their BLM payouts.

Of the roughly 140 salaried BLM partners, those who do not accept the legal director position will be subject to a redundancy process.

A Clyde spokesperson said: ‘We can confirm that a consultation process has started involving BLM’s salaried partners ahead of our merger with them going live on 1 July. While the vast majority of our BLM colleagues’ roles will transfer to Clyde & Co, we do not have a role equivalent to that of a BLM salaried partner at the firm. As such it is proposed that all salaried partners will become legal directors and in parallel are given the chance to apply for a new Clyde & Co salaried partner role that will exist only in our casualty practice, or for the role of partner.

‘We appreciate this is a disruptive and potentially unsettling time for the individuals involved and we will be supporting them through the consultation process. As the consultation is ongoing it would be inappropriate to comment further.

‘We are excited about realising the benefits of our merger for our clients and our people. We are creating the largest casualty insurance practice in the UK and will have the ability invest in technology, provide clients with access to the largest dataset in the industry, and go to market as a whole-of-market, and truly national provider of legal services to the insurance sector.’

Additionally, as part of the merger process, BLM’s offices in Manchester and Liverpool will be consolidated into one new Manchester hub. As a result, all of BLM’s staff in Liverpool will be subject to a redundancy process, however the majority will be offered hybrid working roles in the Manchester office.

A source close to the plans said that BLM had been reviewing its property portfolio long before the merger, and that the move is reminiscent of the firm’s decision to close its Leeds and Bristol offices in 2020 to focus on hybrid working.

A BLM spokesperson said: ‘We can confirm that as part of the TUPE consultation consequent upon the merger with Clyde & Co, we are also in consultation with BLM colleagues based in Liverpool on a proposal to close the current office and reduce our footprint in the city significantly. This follows on from our comprehensive property review.

‘We are pleased that, subject to consultation, the majority of our staff based there will be offered roles in Manchester on a hybrid working basis. We are mindful that this is a disruptive time and may be concerning for the individuals involved and we will be supporting them through the consultation and integration process. As it is ongoing, it would be inappropriate to comment further at this time.

‘Our merger with Clyde & Co is based on our shared ambition to be the market leading insurance practice in the UK. All of our decisions for the merged entity will be based on ensuring we have the service offering, technology and delivery processes to meet the needs of our clients now and in the future.’

In March, Legal Business revealed that a partner vote on a merger between Clyde and BLM was imminent. The following month, market commentators offered conflicting views on whether the tie-up represented a trend of consolidation in the insurance sector.

tom.baker@legalease.co.uk

Legal Business

‘Buffeted from both sides’: City partners react as Clyde & Co and BLM finalise merger

‘Buffeted from both sides’: City partners react as Clyde & Co and BLM finalise merger

With partners from Clyde & Co and BLM recently voting through their £700m merger, observers have offered conflicting views on what the tie-up means for the market.

Legal Business broke the news on 18 March that a partnership vote was imminent, and Clyde confirmed on 28 March that the vote had passed, with the combination to go live in July 2022.

In terms of the key stats, the merged firm, which will still be known as Clyde & Co, will comfortably break £700m in combined revenues, have an overall headcount of 5,000, and boast offices in more than 60 cities worldwide. As for fee-earners, post-merger, the firm will have around 2,600 lawyers and close to 500 equity partners.

A statement made it clear that the tie-up is an insurance play, which is no surprise. Clyde & Co has historically been strong in advisory and contentious insurance work, and BLM has a market-leading niche casualty insurance practice. The statement read: ‘The majority of [BLM’s] lawyers will join [Clyde & Co’s] casualty insurance practice, with other sizable groups joining the professional liability, healthcare and business advisory teams.’

James Cooper, partner and chair of the firm’s global insurance practice group, said: ‘We have long sought to increase the scale of our UK casualty insurance practice though a merger so we can provide the full scope of services, technology, data analytics and innovation that clients in this dynamic part of the market require. Once we started speaking to BLM, we quickly realised that we shared the same approach to client service, had a complementary client roster and similar ambitions in this space.

‘This combination will also boost our regional UK presence and strengthen our healthcare and professional liability offerings too.’ On the office front, the tie-up adds new outposts in Birmingham, Liverpool and Southampton to Clyde & Co’s UK coverage.

The move did not shock insurance partners at rival firms, with the tie-up having featured in market chatter for close to a year. Generally, the merger has been well-received, and viewed as symptomatic of a consolidating insurance market that has refined legal services to a binary between high-end advisory work and high-volume claims work. Typically, Clyde has embodied the former while BLM’s casualty practice fits into the latter.

A recent example, in January 2021 Kennedys opened in Leeds via the takeover of Langleys’ insurance team. The move gave Kennedys coverage in high-volume aspects of insurance, such as motor liability matters and a practice that provides pre-litigated claims handling services to insurers and self-retained corporations.

Richard Leedham, a litigation partner at Mishcon de Reya with extensive experience in the insurance market, told Legal Business: ‘We see consolidation on the defence side all the time, this is just the latest iteration of what firms such as Clyde and Kennedys have been doing. The merger doesn’t surprise me at all – it is likely driven by rates, economies of scale and keeping prices down for their insurer clients.’

Zulon Begum, a partnership law partner and specialist in law firm mergers at CM Murray, added: ‘Coming out of Covid, we are getting lots of enquiries from firms looking to merge or seek external investment. I predict there is going to be lots of activity this year in terms of mergers and IPOs.

‘It’s always the mid-market that you fear for, being buffeted from both sides by the big firms and boutiques. Then you have the likes of the Big Four accountancy firms, which can leverage their multidisciplinary experience and take work from the mid-market – they’re not going to compete with the likes of Slaughter and May and Linklaters, they’re going after the mid-market firms that don’t have the same brand power.’

However, a litigation partner at a leading insurance firm suggested the consolidation trend is phasing out: ‘I don’t sense there is a huge client push for further consolidation. Procurement has a heavy influence of course, but their sole objective is not necessarily to reduce panel sizes. They still need access to the right legal expertise and too few panel firms leaves them with conflict issues and, in the end, having to appoint more firms off panel.’

The merger is Clyde & Co’s biggest in terms of revenue and headcount since it merged with Barlow Lyde & Gilbert in 2011, which was the largest-ever merger of two UK law firms at the time. Since then, Clyde’s recent history has been peppered with tie-ups. In October 2015 it merged with Scottish residential property specialist Simpson & Marwick, adding 45 partners in the process. The following year, a combination was agreed in Sydney with Lee & Lyons, adding five partners and over 25 lawyers. In 2018, 15 partners and 65 other lawyers and staff were brought in via a merger with California firm Sedgwick, and in July last year, Clyde combined with Vancouver-based SHK Law Corporation, which brought six partners and 18 lawyers in total.

Tom.baker@legalease.co.uk

 

Legal Business

Clyde & Co and BLM to merge with partner vote imminent

Clyde & Co and BLM to merge with partner vote imminent

Clyde & Co and BLM are at an advanced stage of merger discussions, with both sets of partnerships due to vote on a tie-up before the end of March.

Legal Business understands that there is significant confidence that the deal will be green-lit.

According to the latest available LB100 data, the merger would create a £736m turnover firm with a combined headcount of over 2,500 lawyers and in excess of 450 equity partners.

It is understood that the merged entity will be known simply as ‘Clyde & Co’, a reflection of the respective sizes of the two firms. Clydes constitutes £640m of the combined revenue and 1,966 lawyers on its own. There are still details to be ironed out, particularly in relation to a combined leadership structure and what kind of roles BLM’s current managing and senior partners, Vivienne Williams and Matthew Harrington respectively, will be offered.

The combination has been in the offing since late 2019, when Clydes approached BLM and mooted a tie-up. It is a naturally attractive proposition for BLM, as one of many firms feeling the consolidation squeeze in the lower mid-market. In 2017, the firm slashed a considerable number of support staff as part of a wider restructuring effort.

Merger talks stalled as a result of the pandemic, before RollOnFriday broke the news in October 2021 that the two firms were in preliminary discussions.

There are obvious synergies between the two firms, with crossovers in areas such as insurance and professional indemnity. However, BLM will also bring Clydes access to established niche practices in casualty insurance and healthcare. Reflecting that strength, BLM has historically featured on NHS legal advice panels.

Neither firm is a stranger to mergers: In 2011 Clyde & Co combined with Barlow Lyde & Gilbert in a major deal, while BLM was born out of a merger between Berrymans and Lace Mawer. Prior to the Barlow tie-up, Clyde had scant regional UK coverage, but a BLM merger would extend its reach to new outposts in Birmingham, Liverpool and Southampton.

A Clydes spokesperson said: ‘We can confirm that Clyde & Co is in discussions about a merger with BLM. As the world’s leading insurance law firm, we are always looking to grow for the benefit of our clients. We have long sought to significantly increase the scale of our casualty insurance practice in the UK so that we can provide the full scope of services, technology, data analytics and innovation that clients in this dynamic part of the insurance market require.

‘We consider a merger such as this the best way to realise these ambitions. BLM is a firm we have long admired and we believe a merger can be formed on the basis of our complementary client rosters and our shared focus on quality.

‘As this merger is not yet finalised it would be inappropriate to comment further at this stage.’

A BLM spokesperson added: ‘Following detailed discussions and a period of due diligence, BLM and Clyde & Co partners will vote on a proposed merger of the two organisations. The Executive Board set strategic objectives around how best to grow the firm and secure our status as a market leading, innovative and full-service law firm across the UK, Ireland and internationally. We believe that a potential combination with Clyde & Co would provide us with the growth needed to develop our business.

‘The result of the vote will depend on whether, in the respective partner group’s view, combining the firms is in the best interests of our colleagues, clients and the wider businesses.

‘The strategic and commercial compatibility of the two firms is undeniable. We are both dominant in risk and insurance and our respective businesses complement each other. Whilst Clyde & Co is a global business, we both have an extremely strong presence in the insurance sector in the UK and Ireland. Clyde & Co also boasts a strong offering in business and advisory services.

‘More details will be provided as soon as the vote has taken place.’

tom.baker@legalease.co.uk

nathalie.tidman@legalease.co.uk

Legal Business

‘Move in the right direction’: BLM appoints veteran as new managing partner

‘Move in the right direction’: BLM appoints veteran as new managing partner

Insurance law and risk specialist firm BLM announced today (17 July) it has appointed its claims solutions head Vivienne Williams (pictured) as the firm’s new managing partner. She replaced Gary Allison, who retired after 23 years at the firm, last week.

Williams assumed her position for three years with immediate effect. A partner at BLM for 29 years, and a member of the firm’s executive board, Williams headed its claims solutions business stream and the large loss and technical business stream, responsible for the quality of products, service delivery and performance within those areas.

Former managing partner Allison, also the firm’s healthcare lead, had been in the role since December 2016, when he replaced longstanding leader Andrew Relton.

Williams said BLM had made a number of strategic decisions over the last 12-18 months, ‘which has meant a great deal of change at the firm’.

Most recently, this included the expansion of our firm throughout the UK and Ireland and the launch of global insurance law connect, of which the firm is a founder member.

‘I pledge to work closely with colleagues throughout the firm, to ensure that BLM is a great place to work and also continues to move in the right direction,’ she added.

Last November, BLM confirmed plans to reduce 19 out of 40 business support roles in Leeds as it downsized and relocated in the city. In a statement, the Manchester-headquartered firm said it had embarked on a programme of business improvement earlier in the year and had established a ‘premises strategy group’ to review its locations.

With over 200 partners, 13 offices across the UK and over £100m turnover, the LB100 firm’s strategy included recognition as one of the leading global insurance and risk law specialists by 2020.

Last year, BLM posted a 3% increase in turnover to £107.7m, but struggled with profitability, as profits per equity partner fell 14% to £205,000 during the period. The firm said this reflected ‘a year of investment’

In 2014, the firm surpassed the £100m revenue mark, buoyed by its Scottish and Northern Ireland mergers.

On 1 May 2014, Berrymans merged with HBM Sayers to become BLM, creating a £100m risk and insurance-focused firm with 170 partners and additional offices in Glasgow and Edinburgh.

Through further expansion, the firm combined with Campbell Fitzpatrick Solicitors in December 2014, providing the firm with offices in Belfast and Londonderry, eight partners and an additional 21 legal staff.

Georgiana.tudor@legalease.co.uk

Legal Business

BLM to cut more business support roles with up to 15% of staff at risk

BLM to cut more business support roles with up to 15% of staff at risk

Berrymans Lace Mawer (BLM) is looking to cut up to 50 secretarial and support roles across the firm, totalling 15% of BLM’s overall business support roles, following the firm’s investment in technology and flexible working among lawyers.

It is understood that voluntary redundancy was offered was to over 300 employees in the firm. Staff were informed last Friday (8 June), with the process expected to conclude at the end of this month.

The law firm, which specialises in insurance and risk, has already restructured its business support roles in Leeds.

Mike Brown, senior partner at BLM said in a statement that the firm had decided to review its direct support teams across all locations in line with its business improvement programme.

Brown added that BLM has ‘made a significant investment in developing technology at our firm and many of our lawyers are now working in an agile way which has an impact upon the demand for traditional direct support.’

‘We have therefore offered voluntary redundancy to colleagues in our direct support teams and this process is currently ongoing’, he added.

Last November, Legal Business reported that BLM was to axe nine of 40 business support roles in Leeds as it downsized and relocated its presence in the city.

In a press statement, the firm said it had embarked on a programme of business improvement earlier in the year and that it has established a ‘premises strategy group’ to review its locations.

The firm sought to change the nature of its Leeds operations to ‘create a lean, agile and focused hub in Leeds, thereby reducing our current office space,’ according to a statement.

At that time, BLM said its intention was to maintain as many staff as possible and it was consulting on the proposed redundancies. It said it had a strong customer relationships in place in its Leeds office and would maintain a presence in the city.

In 2015/16, BLM posted a 3% increase in turnover to £107.7m but has struggled with profitability, as profits per equity partner fell 14% to £205,000 during the period.

In 2014/15 the firm surpassed the £100m mark, buoyed by its Scottish and Northern Ireland mergers.

Berrymans merged with HBM Sayers on 1 May 2014 to become BLM, creating a £100m risk and insurance-focused firm with 170 partners and additional offices in Glasgow and Edinburgh.

Further expansion saw the firm combine with Campbell Fitzpatrick Solicitors in December 2014, providing the firm with offices in Belfast and Londonderry, eight partners and an additional 21 legal staff.

kathryn.mccann@legalease.co.uk

Legal Business

BLM to cut almost half of support staff in Leeds in ongoing restructuring

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LB 100 firm BLM has confirmed it will axe 19 out of 40 business support roles in Leeds as it downsizes and relocates in the city.

In a statement the firm said it had embarked on a programme of business improvement earlier in the year and that it has established a ‘premises strategy group’ to review its locations.

The statement said: ‘We have made a proposal to change the nature of our operations in Leeds and create a lean, agile and focused hub in Leeds, thereby reducing our current office space.’

BLM said its intention was to maintain as many staff as possible, and it was undergoing consultation on the redundancies.

‘We have a number of strong customer relationships in place in our Leeds office. We will continue to maintain a presence in the city.’

Mike Brown, senior partner at BLM said: ‘It is clear to us that the workplace of the future does not necessarily reflect the workplace of today and that the growth of our business will be the result of the investment we make now. It is with this continued investment that we are able to adapt and re-shape our business model to align ourselves to the risk and insurance world.’

BLM posted a 3% increase in turnover to £107.7m in 2015/16 but has struggled with profitability, as profits per equity partner fell 14% to £205,000 during the period.

In 2014/15 the firm surpassed the £100m mark, buoyed by its Scottish and Northern Ireland mergers. Berrymans merged with HBM Sayers on 1 May 2014 to become BLM, creating a £100m risk and insurance-focused firm with 170 partners and additional offices in Glasgow and Edinburgh. Further expansion saw the firm combine with Campbell Fitzpatrick Solicitors in December 2014, gifting the firm with offices in Belfast and Londonderry, eight partners and an additional 21 legal staff.

victoria.young@legalease.co.uk

Legal Business

Revolving Doors: Norton Rose Fulbright takes Hogan Lovells partner as Squires builds in Germany and BLM makes a senior hire

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Despite the summer break being upon us, law firms have continued to invest in their recruitment strategies. Norton Rose Fulbright (NRF) continued to build its Hong Kong offering by hiring a partner from Hogan Lovells, while Squire Patton Boggs turned in-house and BLM scored a ‘major coup’.

NRF has made several additions to its Hong Kong offering of late with David Johnson joining in March from K&L Gates having previously been a partner at Allen & Overy, and the promotions of James Parker and Allan Yee in May. But, the firm took has now taken its partner headcount in the city to 23 with the addition of Hogan Lovells’ Terence Lau.

Lau, who joins as a corporate and equity capital markets partner, was made up to partner in 2008 and has worked on a variety of matters including equity offerings, initial public offerings, M&A, private equity, share repurchases and regulatory and compliance. He has also worked on joint ventures and schemes of arrangement.

Squires also made an international appointment, recruiting Rouven Schwab, general counsel of global fertilizer and specialty chemicals enterprise ICL Group in Frankfurt. Schwab joins as a partner in the firm’s chemicals industry group having been responsible for managing legal activities of over 40 business subsidiaries across Europe and Asia-Pacific.

‘We are delighted to welcome Dr Schwab to the firm’s global chemicals team. His hands-on experience working in-house at a global manufacturer will be valuable asset to our international clients,’ said Carolyn Buller, Squires’ chemicals group chief.

Meanwhile, BLM bolstered its presence in the UK by hiring the head of DAC Beachcroft’s national disease unit Paula Jefferson. She joins BLM’s specialist abuse claims team alongside DAC lawyer Catherine Davey, and employee Sarah Wright.

Jefferson has worked various public sector bodies including faith groups, the ministry of defence, schools and charities on abuse claims as well as on international injury claims such as those following the Mumbai terrorist attack.

Michael Pether, head of BLM’s public sector group, said: ‘The addition of Paula to the team is a major coup for the business and one that will only serve to improve our depth of experience and customer offering  across the many sectors where historic and, all too sadly, more recent abuse arises. Her long track record of sensitively advising in high profile matters, including representing the BBC in connection with the Jimmy Savile claims, speaks for itself and we look forward to sharing the benefits of Paula’s experience with our customers.’

Finally, Balfour Beatty revealed its new group General Counsel (GC) after Chris Vaughan stepped away from the position. David Mercer takes on the role having been GC for the group’s UK construction and services businesses since 2011. Mercer previously worked in-house at BP and as a partner at Upstream Law.

michael.west@legalease.co.uk

Legal Business

PEP up to £265k as BLM’s mergers lift firm past £100m turnover mark

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Helped by its Scottish and Northern Ireland mergers, BLM has surpassed the £100m turnover mark and posted £104m in revenues for the 2014/15 financial year.

The enlarged firm, which has 77 equity and 133 non-equity partners, posted profits of £18.3m with a profit per equity partner (PEP) figure of £265,000. Although that equates to the same profit margin as before its two tie-ups last year, 18%, the firm’s PEP is up by £16,000. In 2013/14, Berrymans Lace Mawer posted revenues of £89m with a PEP of £249,000.

With clients demanding insurance firms offer services across the UK, Berrymans merged with HBM Sayers on 1 May last year to become BLM, creating a £100m risk and insurance-focused firm with 170 partners and additional offices in Glasgow and Edinburgh. Further expansion saw the firm combine with Campbell Fitzpatrick Solicitors in December 2014, gifting the firm with offices in Belfast and Londonderry, eight partners and an additional 21 legal staff.

Senior partner of the 950-lawyer firm, Mike Brown, commented: ‘We continue to act for 12 of the top-15 UK and Ireland insurers and whilst risk and insurance certainly remains at our core, given our substantial presence in the general insurance, London Market and broking sectors, we’re increasing profile within our other sectors, growing revenue and securing new business from leading corporates, health and care organisations and public sector bodies.’

The recent expansion of insurance-focused firms north of the border has seen Kennedys open two offices in Glasgow and Edinburgh through partner hires from commercial litigation firm Francis Gill & Co and McClure Naismith, while DAC Beachcroft, Shoosmiths, and DWF all now have offices in Scotland, most of which were achieved through the takeover of a struggling domestic firm. Clyde & Co has also confirmed that it is in merger discussions with Simpson & Marwick.

michael.west@legalease.co.uk

Legal Business

Partner promotions: Weightmans makes an all-female round as BLM cuts its to six and Browne Jacobson’s partnership passes 100

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This week saw Weightmans carry out its first all-female promotions round, making four women up to partner level, while BLM made up six in a reduced round from 2014 and Browne Jacobson promoted seven new partners taking its total partnership to 104.

Weightmans’s round also saw the firm use its Alternative Business Structure for a second year to promote non-legal employees to a Fixed Share Membership (FSM). The firm promoted HR director Sam Airey to FSM, following the first promotion of a business services employee last year, with marketing director Sarah-Jane Howitt.

The three other promotions at the firm were in commercial insurance, corporate finance and corporate dispute resolution. Commenting on the all-female promotions, Airey said: ‘Weightmans prides itself on its people-focused culture and encourages a healthy work life balance. As HR Director, I am delighted and excited about these promotions as it sends a positive message throughout the firm, that we recognise the importance of flexible working.’

In what saw the firm surpass the 100-partner mark, Browne Jacobson made the majority of its promotions in its Birmingham office, which saw five of the seven while a further two partners were made up in Nottingham. The promotions were spread evenly among practices with each partner specialising in a different area.

Meanwhile, as well as the six partner promotions, BLM made 27 associate promotions across five of the firm’s business streams, with 12 in claims solutions, 10 in large loss and technical, three in speciality and financial lines, seven in healthcare and commercial, and one in the firm’s Ireland business stream.

The partner round was much reduced from last year when BLM made up 24 partners after having recently finalised its merger with HBM Sayers.

The list of partner promotions in full is as follows:

Weightmans

Sam Airey, Liverpool, HR Director

Patricia Grinyer, Liverpool, corporate finance

Navdip Wilson, Leicester, commercial insurance and local government

Carole Spiller, Manchester, corporate dispute resolution

Browne Jacobson

Richard Freeth, Birmingham, education

Emma Hopkinson, Birmingham, banking

Mike Jackson, Birmingham, corporate

Lisa McGinn, Birmingham, property

Tim Rayner, Birmingham, property Litigation

Michael Sadler, Nottingham, construction

Lucy Worwood, Nottingham, tax

BLM

Caroline Haydock

Kelly Matthews

Karen Redmore

Matthew Perkins

Sarah Murray-Smith

Jane Littlewood

kathryn.mccann@legalease.co.uk

Legal Business

‘We’re on a journey we haven’t completed yet’: BLM elects senior partner Mike Brown for second term

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In an uncontested election, risk and insurance-focused law firm BLM has unanimously re-elected its senior partner, Mike Brown, for a further three-year appointment.

His term will take effect this month with Brown, a healthcare litigation specialist, having first been appointed in 2012 to handle the leadership, promotion and development of the firm. He further chairs the firm’s executive and partnership boards.

Speaking to Legal Business, Brown said: ‘We have a longstanding ambition to be one of the global leading risk and insurance firms by 2020. As a consequence of the combinations we’ve achieved through the UK and Northern Ireland, we are getting approached by overseas firms to do business with us. One always has to be alive to opportunity. We’re not in talks at the minute, but we’ve had approaches.’

Brown added: ‘We’re on a journey we haven’t completed yet. We’ve managed to reposition, rebrand and develop the business through combinations with other firms. But we still have ambition to move the business forward. I’m just fulfilling the brief.’

Having joined legacy AW Mawer & Co in 1987, Brown has been instrumental in leading the firm through two combinations, most notably the sizeable union of Berrymans Lace Mawer with HBM Sayers on 1 May 2014 to become BLM, creating a £100m risk and insurance-focused firm with 170 partners. The new offering brought together 630 lawyers and technical specialists with operations across 12 offices in England, Ireland, Scotland and Wales. HBM has offices in Glasgow, Edinburgh and London. Further expansion included its December combination with Northern Ireland-based Campbell Fitzpatrick Solicitors in December 2014, gifting the firm with eight partners and an additional 21 legal staff.

The firm’s agenda this year will see it relocate from its London office at Salisbury House, London Wall, to Plantation Place in Central London, the City’s primary financial district. Brown said: ‘The primary objective is to ensure the business is growing and financially sound, and continue to support our customers while gaining traction with them.

‘We’ve undertaken significant hires in the last twelve months. We’ve got further lateral hires in the pipeline, we’re opening our new office next month and we’ve had people approach us about what else they can do.’

sarah.downey@legalease.co.uk