Watson Burton bosses inject £1m to aid expansion

Nov 13 2009 by Chris Knox, The Journal

SENIOR executives at one of the region’s biggest law firms have injected an extra £1m into the business saying it will help it prepare for increased competition resulting from a shake up in the legal sector.

The senior partners at Newcastle-based Watson Burton say they have invested the funds to help the firm expand over the coming years, and claimed the extra cash may be used to acquire one of its rivals or open additional offices.

The £1m investment has been made by senior partner Rob Langley, Gillian Hall, Chris Graham, David Bowden, Duncan Reid, Richard Palmer, Roddy Gordon and Simon Scougal.

Mr Langley said: “We have been through a time of restructuring and renewal which leaves us stronger and more confident for 2010.

“This injection of capital represents a tremendous statement of confidence by a broad base of senior equity partners.

“There is a positive energy evident in the firm across staff and partners.

“Our committed and highly motivated lawyers are at the heart of our ability to drive the business forward with success, and they are guided and supported by a dedicated professional team, led by chief executive Patrick Harwood.”

Like many companies in the region’s legal sector, Watson Burton has been badly affected by the recession and has been forced to make 60 redundancies this year, as well as eight last December.