Alternative business structures
Senior City lawyer becomes ABS but faces MDP dilemma
The former head of construction at City giant Norton Rose has turned his legal consultancy into an alternative business structure, but has had difficulty finding a non-lawyer professional partner of similar standing to link up with.
Blue-chip wealth adviser becomes ABS and predicts global take-up
The chief executive of a blue-chip global wealth adviser that administers £200bn of assets has predicted alternative business structures are a reform of law firm ownership that other countries will have to adopt – having just secured a licence itself.
SRA imposes conditions on PwC and Direct Line’s ABS licences
The Solicitors Regulation Authority has hedged the award of alternative business structure (ABS) licences to accountants PricewaterhouseCoopers and insurer Direct Line Group with a host of conditions, it has emerged.
Here come the big boys – PwC gains ABS licence
PricewaterhouseCoopers (PwC) has become the first of the ‘big four’ accountants to become an alternative business structure (ABS), it announced today. The move allows it to become the owner of, and investor in, PwC Legal.
Jordans’ ABS will “help, and not compete, with company’s law firm clients”
The alternative business structure (ABS) set up by Jordans – the company best known for its company formation services and legal textbooks – is looking to work with its existing law firm clients as an outsourcer, not compete with them, its CEO emphasised this week.
Top insurer Markel wins approval to buy ABS – and its listed owner
The first acquisition of a listed company that in turn owns an alternative business structure went through last week after leading insurer Markel won court approval for the scheme of arrangement to buy Abbey Protection Group plc.
Cypriot construction consultancy becomes ABS for its international kudos
An international construction law consultancy has become an alternative business structure (ABS) in order to take advantage of the esteem in which English firms are held elsewhere in the world, in one of the more unusual ABSs seen to date.
SME legal advice website returns to crowdfunding for investment
An online legal service aimed at small businesses yesterday launched its second round of ‘crowdfunding’ in less than a year, while awaiting an alternative business structure (ABS) licence with a view to obtaining further equity.
PI firm adds ABS licence in dash for “spectacular” growth
A Lancashire personal injury firm that has grown from four to 100 staff in under four years and its turnover to £4.5m, has acquired an alternative business structure licence as part of ambitious growth plans.
Leeds firm breaks new ground with trade union ABS
Morrish Solicitors has become the first law firm to take external investment from a trade union. The Leeds practice has formed an alternative business structure with its client, the Transport Salaried Staffs’ Association.
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