Retail guru fashions ABS move into the law
Written By - Channon Sharples - June 16,2014
An ambitious legal firm that negotiates large-scale outsourcing contracts has snapped up a top retail guru to help expand the business.
Radiant Law, which has offices in London and South Africa, has installed former Mothercare managing director Greg Tufnell (pictured) as minority shareholder and non-executive chairman.
Tufnell’s arrival was made possible after the firm secured an alternative business structure licence from the Solicitors Regulation Authority last week. He is the latest high-profile non-lawyer to be attracted to legal services, following entrepreneur James Caan, an investor in Knights Solicitors, and Betfair founder Andrew ‘Bert’ Black, who has backed Leeds firm Brilliant Law.
As well as running the children’s store, Tufnell has held senior roles at Burton Menswear and high street retailer Next.
Radiant Law founder Alex Hamilton said his recruitment will bring ‘huge business experience, an understanding of what it is like to be a buyer of legal services, and the discipline of a fashion retailer’.
Hamilton said the firm may also look to attract external funding, but this is not likely in the short term.
Radiant Law was founded by Hamilton, a former partner at international firm Latham & Watkins, three years ago.
The firm negotiates and resolves disputes for large outsourcing, IT and commercial contracts. It turned over £1.5m last year. Hamilton said much of the demand for services in recent months had come from in-house teams who are being required to cut costs and close contracts quickly.
Research published last week by the Solicitors Regulation Authority shows how ABSs are becoming major players, now accounting for a third of the turnover of the personal injury market, for example.
A survey of successful ABS applicants found that two-thirds stated the new status had provided or attracted new investment, most commonly in technology, marketing and changes to the way services are delivered.
Meanwhile, the spread of ABSs looks set to extend to the Republic of Ireland from next year.
A spokeswoman for the Irish Department of Justice and Equality said its legal services regulation bill remains an ‘ongoing commitment’ – despite justice minister Alan Shatter being replaced by Frances Fitzgerald last month.
The bill, keenly supported by Shatter, will introduce an independent regulator to authorise new legal business structures, notably multi-disciplinary partnerships.
Source - http://www.lawgazette.co.uk/