The Co-operative group’s push into high street legal services continues to falter, with the unit making a £5.1m loss for the 26 weeks to 5 July.
Things to come – accountancy body handed power to grant ABS licences
There has been more attention of late on the corporate ambitions of major audit groups but news this week is a reminder that accountants are also targeting the high street legal services market.
Continue reading “Things to come – accountancy body handed power to grant ABS licences”
ABS latest: Kent Legal Services to open the bidding in search for a JV partner this summer
Kent County Council‘s legal arm is seeking ‘expressions of interest’ from potential alternative business structure (ABS) joint venture partners in advance of a formal procurement exercise to launch this summer as part of the council’s wider programme to raise funds.
ABS latest: Fairpoint Group to acquire Simpson Millar for £9m
Finance company Fairpoint Group has today (9 April) announced its intention to acquire Leeds-based Simpson Millar.
Continue reading “ABS latest: Fairpoint Group to acquire Simpson Millar for £9m”
Guest post: Boring, boring Irwin Mitchell – there’s more to life than floating
It’s not often that I feel sorry for law firm PR people, but I sense that Irwin Mitchell is getting a little fed up with being asked when the firm is going to float. Continue reading “Guest post: Boring, boring Irwin Mitchell – there’s more to life than floating”
When futurology becomes reality – LexisNexis gains ABS licence to launch compliance service
The UK arm of legal publishing giant LexisNexis has been awarded an alternative business structure (ABS) licence by the Solicitors Regulation Authority and hired Duane Morris compliance and technology partner Jonathan Armstrong to spearhead its new business, Cordery Compliance. Continue reading “When futurology becomes reality – LexisNexis gains ABS licence to launch compliance service”
Race to provide direct legal services sees Allianz convert to an ABS
Last year they hit your television with an advert comparing the stresses of the daily commute and school run to a formula one race but this week multi-billion UK personal and business insurer Allianz entered the race to provide direct legal services to their customers by converting to an alterative business structure, after being granted a licence by the Solicitors Regulation Authority. Continue reading “Race to provide direct legal services sees Allianz convert to an ABS”
PwC forms new law firm in Canada one month after obtaining ABS status
In the first major development since PricewaterhouseCoopers last month received authorisation from the Solicitors Regulation Authority (SRA) to become an alternative business structure (ABS), the accounting giant announced on 1 March that it has formed a new law firm in Canada by tying up with Toronto immigration outfit Bomza Law Group.
The new firm will be called PricewaterhouseCoopers Immigration Law, and Christopher Kong, national managing partner of PwC Canada’s tax services said: ‘With a range of global employment opportunities and the related complexities to employees and employers, an immigration law firm affiliated with PwC provides an opportunity to help our clients with the mobility of their people.’ Continue reading “PwC forms new law firm in Canada one month after obtaining ABS status”
In-house lawyers to be affected by impact of ABS as hundreds of corporates consider conversion
Up to 700 companies, public authorities and charities could currently be considering the business case for applying to become an Alternative Business Structure (ABS) according to a report commissioned by the Solicitors Regulation Authority (SRA) on the in-house market.
Published yesterday (4 February), the report, simply called ‘the role of in-house solicitors’, surveyed over 2,000 in-house solicitors as well as 213 representatives from organisations employing in-house solicitors. Continue reading “In-house lawyers to be affected by impact of ABS as hundreds of corporates consider conversion”
Game changer: PwC receives approval from regulator to become an ABS
In a potentially game-changing move for the legal market PwC has today (31 January) received approval from the Solicitors Regulation Authority to become an Alternative Business Structure, meaning that it can directly own limited liability partnership, PwC Legal, bringing together its circa 2,000 global lawyer network.
The only one of the Big Four accountants to maintain a serious legal offering since the withdrawal of the likes of KPMG shortly after the turn of the century, PwC said last year that it was looking at a number of different options in the legal sector including conversion to an ABS, which will allow it to offer a more joined up service with its, until now, entirely separate legal arm. Continue reading “Game changer: PwC receives approval from regulator to become an ABS”