I am often asked the reason for the success of the revenue share model. Simply put, it’s down to the demand. Attitudes have changed and people want more, that is why these models are seeing so much growth.
Since we started our fee share law firm 11 years ago, the demand for this type of model has significantly increased, not just from lawyers but with demand from clients too. And this has only accelerated with the pandemic when the whole nation began remote working and became aware of the benefits.
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Richard Papworth, who served as head of banking and finance at Addleshaw Goddard until retiring last May, has joined corporate and commercial law ABS gunnercooke.
Papworth follows in the footsteps of Nationwide’s’ former group general counsel Liz Kelly who joined the fast-growing corporate and commercial law firm in September 2014.
While at gunnercooke, Papworth will be tasked with supporting the firm in expanding its banking relationships by primarily focusing on client development and relationship management.
At Addleshaws, Papworth was a client relationship partner for one of the firm’s largest banking clients for over ten years, and has experience in advising building societies as lenders, borrowers/debt capital market issuers and counterparties.
He also sat on the executive board of the firm from 2011 – 2014 and had responsibility for HR matters at board level, including lateral hiring and partner promotions and appointments as well as serving as a divisional managing partner for finance and projects for seven years.
Commenting on his new role, Papworth said: ‘I have been keenly following gunnercooke’s expansion and decided that the opportunity to work alongside the banking team, a number of whom I have worked with previously and have great respect for, was too good to pass up on. Throughout my career I’ve focused on strong client relationships and it’s fantastic to join a model that has this same core value.’
He will be based in gunnercooke’s offices across Manchester and London. The firm comprises 105 ‘partners’ across London and Manchester offices, practising using a fixed fee model, without time recording. All gunnercooke partners have over 10,000 hours practising experience, and majority have spent time at law firms or in house.