Irwin Mitchell converts to ABS and brings in new leadership
Irwin Mitchell has converted to an alternative business structure, making it the largest UK law firm to make the change under legislation permitting non-lawyers to own stakes in law firms and the possibility of external investment.
And the firm is wasting no time taking advantage of their new status to appoint new leadership. As part of the conversion, the Solicitors Regulation Authority approved the appointments of Glyn Barker, former vice-chairman UK of PricewaterhouseCoopers, as chairman of Irwin Mitchell's parent company, IMCO Holdings, and Mel Egglenton has been appointed as a second non-executive director and chair of the company's audit committee, a role he previously held with accountants KPMG.
John Pickering, group chief executive at Irwin Mitchell, said: "This is a major step forward for Irwin Mitchell as a group and we are delighted that we have received the licenses for which we applied. It's a very significant day for us, an important milestone which positions us well to take advantage of the opportunities which we think will arise from the changing legal landscape.
"We can now push on with our plans for growing the business. Conversion to ABS status sends a clear signal that we intend to move forward with our strategy and we are pleased to be the first multilicensed ABS, which reflects the breadth of our offering to clients."