Firm embarks on ambitious growth strategy with granting of ABS status
McCarthy Denning, has been granted alternative business structure (ABS) status. McCarthy Denning’s conversion to an ABS will give the firm the ability to raise additional investment as the firm seeks to grow to 50 lawyers by the end of 2017 and 100 lawyers by the end of 2018. The firm is looking to attract experienced and commercially savvy lawyers with market leading credentials and a client following of £300,000 to £2,000,000.
The firm's conversion to an ABS also allows non-lawyer co-founder and chief executive officer (CEO) Warren Wooldridge to become a director and shareholder alongside co-founder, McCarthy Denning chairman and corporate lawyer, Richard Beresford.
Warren Wooldridge comments: “The granting of our ABS status is an important development for the firm as we continue to attract high calibre lawyers. These have often become disillusioned with the increasing uncertainty of operating in traditional large and mid-size law firms and who want more control over their working lives. When we established McCarthy Denning we made it truly client-centric by listening and responding to what clients wanted – a firm of high quality lawyers with the infrastructure to support them but without the overheads and inefficiencies associated with your typical City law firm. We have built solid foundations over the last three years and we are now looking forward to significantly ramping-up our market profile with our conversion to ABS status.”
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