We’ll be fine, say Jacksons
A senior partner involved in the de-merger of a Stockton law firm has claimed the move will not spark a flurry of legal firms going private.
Today Stockton-based Jacksons confirmed it had broken up from Newcastle-based Mincoff just one year after the merger was first announced.
At the time they said it was an “ideal marriage of similar firms with a similar general ethos” and “a merger of equals”.
But “unforeseen” economic conditions has forced a re-think.
Both firms will continue to provide commercial and private client services, with Mincoffs practising from its Newcastle office and Jacksons from its Tees Valley base.
Simon Catterall, pictured, President of Tees Valley Law Society and a partner at Jacksons, remained philosophical about the break-up and said Jacksons would continue to serve its client base in the same way it before the merger. “Sometimes these things work out, sometimes they don’t. We were fine before the merger and we will be fine after it.”
He said he did not foresee a succession of de-mergers in the legal sector, which has witnessed a rush of law firms joining forces to protect themselves against competition from the banks.
“A lot of firms were merging in anticipation of increased competition from the banks, which never happened. The banks suffered their own Waterloo.”
All staff will remain in their original employer’s offices. Mincoffs will be headed by senior partner, Howard Gold and Jacksons will be headed by senior partner, Kevin Fletcher.
Share
