Irwin Mitchell continue preparation for ABS

Irwin Mitchell have announced that it intends to appoint Mel Egglenton as a Non-Executive Director to its Board as the company continues with its preparations to become an Alternative Business Structure.Mr Egglenton, former UK Senior Independent Partner at accountants KPMG, will become the second Non-Executive Director appointment to the Board of Irwin Mitchell Holdings Ltd and will Chair the company’s Audit Committee, a position he also held with KPMG.
His appointment follows on from the recent appointment of former PricewaterhouseCoopers Vice Chairman Glyn Barker as Chairman Designate of Irwin Mitchell, which confirmed that it had become one of the first firms to begin the application process to become an ABS at the beginning of January.
The timing of Mr Egglenton’s appointment as a Non-Executive Director will be dependent on the approval of the firm’s ABS application and approval of his appointment by the SRA, as will also be the case with the appointment of Mr Barker, who will become the firm’s Chairman upon regulatory approval being received.
Commenting on the latest appointment to the Board, Irwin Mitchell’s Group Chief Executive John Pickering said: “This....is a move which again signals our clear intention to take advantage of the opportunities we think will arise from becoming an ABS."

Indeed, Irwin Mitchell have never hidden their ambitions in this regard, having announced in April 2010 that they intended to apply for ABS status as soon as the Legal Services Act permitted, and having put in place a corporate holding structure to facilitate the move.  There has also been speculation that one of the aims is to be the first British law firm to float on the Stock Exchange, although this is somewhat down-played by insiders at the firm, who say it is simply one of a range of options.  The firm are being advised by Espirito Santo Investment Bank.