Addleshaw Booth & Co is to lose all future property instructions from HBOS after making the partner in charge of the client relationship redundant
Addleshaws is on the HBOS panel for property work, but will not receive any further instructions as relationship partner Paul Grooby is moving to Hammonds. Grooby is one of 11 partners Addleshaws made redundant in May this year in an attempt to increase profits. An HBOS spokesperson confirmed that although Addleshaws will remain on its property panel until the next review, all of the property work will go to Hammonds. Grooby spent 17 years at Addleshaws and has been a partner at the firm since 1988. He became lead partner for Halifax in 1997 and extended that role to HBOS after Halifax merged with Bank of Scotland. Grooby's appointment is a real coup for Hammonds, which currently enjoys only a minor relationship with HBOS. The firm is on the HBOS remortgaging panel, but was dropped from its repossession litigation and repossession sales panel in February this year (The Lawyer, 11 February). Paul Howell, Addleshaws divisional managing partner for property, said: "I would like to thank Paul for the role he has played in growing the business and in establishing the firm's commercial property practice as a genuinely dominant national player."