Irwin Mitchell has announced Glyn Barker, former Vice-Chairman at PricewaterhouseCoopers, as its’ Executive Chairman as the firm pushes on with its plans for alternative business structure (ABS) accreditation.
Barker’s arrival sees him succeed, senior partner, Michael Napier and is predicted to draw external investment in the firm.
John Pickering is the Group Chief Executive:
“This is an important appointment which again signals our intention to take advantage of the opportunities we think the Legal Services Act and moving to ABS status will offer us.”¹
It is estimated the Solicitors’ Regulation Authority has received over 65 first stage ABS applications and is now working on creating a series of bespoke second-stage application packs. These personalised packs will reflect the nature of the proposed business as well as requiring detailed information about the owners.
Despite indications that the SRA will approve its first ABS licence by the end of February, the third stage of the ABS process actually allow the regulator six months to examine and evaluate the application before beginning required to reach a decision. Should it then require additional information, it can extend the decision date for a further three months.
¹The Lawyer (Jan 2012)