The glass ceiling: women make up half the UK’s lawyers but only a quarter of partners in top firms May 17, 2016 Women make up around half of all lawyers in the UK, but only a quarter of partners in large law firms are female, indicating that the glass ceiling is still very much in place. A survey into diversity in the legal sector by the Solicitors Regulation Authority found that while 47 per cent of qualified [...]
AA to run-off AA Law, its Alternative Business Structure run by Lyons Davidson January 20, 2016 AA has effectively placed its Alternative Business Structure (ABS) venture, AA Law, into run-off, City A.M. can confirm. The breakdown cover provider has decided that the number of customers using AA Law, which was originally set up as a joint venture with solicitors firm Lyons Davidson, does not justify running it as a standalone business. While Lyons [...]
Competition and Markets Authority launches market study into the legal services sector to examine concerns about affordability and standard of services January 13, 2016 The Competition and Markets Authority (CMA) today announced that it had launched a market study into the legal services sector. The study will examine concerns relating to affordability and standard of services offered to consumers and small businesses. In particular, the CMA is reviewing how able consumers are to make informed purchasing decisions and whether adequate [...]
Tough trading slows partner promotion rate at law firms September 23, 2012 THE NUMBER of partners in English and Welsh law firms has dropped for the first time since the depths of the financial crisis, research out today claims. A net 153 partnership roles disappeared in the year to the end of June, after two years in which more than a 1,000 net partner positions were added, [...]
Legal firm Irwin Mitchell given regulatory go-ahead to expand August 20, 2012 LAW firm Irwin Mitchell said yesterday it had been given the regulatory nod to go ahead with its conversion to an Alternative Business Structure (ABS), paving the way for ambitious growth plans. The mid-tier firm was among the first batch of companies to apply for approval from the Solicitors’ Regulation Authority (SRA) in January, and [...]
Co-op granted licence to sell legal services March 28, 2012 CO-OPERATIVE Legal Services has become the first alternative business structure (ABS) to launch in the UK after being officially approved by regulators, along with a pair of regional solicitors’ firms. The Solicitors Regulation Authority (SRA) said yesterday it had licensed the Co-operative Group subsidiary, Oxford-based John Welch and Stammers, and Lawbridge Solicitors in Kent as [...]
BT latest to plan legal service as claims business applies for Tesco law licence February 16, 2012 TELECOMS giant BT is muscling in on the legal sector after confirming yesterday that its claims management division has applied to become an alternative business structure under the so-called Tesco law. Wholly-owned subsidiary BT Claims currently just handles claims related to its parent group’s corporate vehicles, but if a licence is granted plans to roll [...]
Duke Street takes stake in legal market February 6, 2012 PRIVATE EQUITY firm Duke Street has become the first investment house to take a stake in the UK’s legal sector, buying a majority stake in Parabis Group – the parent company of two insurance litigation firms. Duke Street’s investment, which means it owns just over 50 per cent of Parabis, values the company at £150m-£200m. [...]
Serco insists it will grow despite cuts March 2, 2011 OUTSOURCING group Serco posted a 21 per cent rise in full-year profit yesterday, helped by strong revenue growth in the Americas, as the firm insisted that UK government spending cuts will not damage the firm. Chief executive Chris Hyman told analysts yesterday that “if we’ve got the skills and capabilities, we will see the growth” [...]
Lawyers on boards would benefit City March 1, 2011 THE corporate headlines last week focused on women being overlooked for board positions in FTSE companies. They’re not alone: other than as general counsel there’s a similar paucity of lawyers. Presumably female solicitors don’t have any chance at all. This is pretty curious given the many skills that lawyers can add, most notably a willingness [...]