BLG and Clydes get partner backing for proposed tie-up

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Readers' comments (9)

  • What strike me as odd is why BLG felt it had to do this. There was plenty going for the firm and it did have some strong practices, it should have attempted to reboot those instead of selling out to the highest bidder.

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  • 10% of BLG partners ejected now, 20% left voluntarily last year, and no doubt a few will conclude Clydes is not for them anyway. The one way lock-in says it all. Sad end to what was really quite a good firm a few years back

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  • Official at last. Not the best kept secret in the City this year!

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  • Sad end? All but a handful of partners housed in a focused, profitable £300m plus turnover firm which will dominate international insurance and many other areas for years to come, not to mention one of the biggest litigation firms in the world. The real 'saddos' look like the partners who jumped ship for dead end commercial firms. How BLG was able to pull this off amazes me.

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  • @Anonymous 5.41pm: clearly you know little about BLG, otherwise you'd know of the impossibility of a "reboot" for a failed firm.
    This is the only life raft available for BLG's remaining partners, and they've taken it: pity it only has room for 60.

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  • More than anything else, this seems to be a complete u-turn on the strategy to expand into the regions, now replaced by a "merger" in order to break into high end litigation and take advantage of Clyde's international reach: as usual pity those "let go of" in the fallout.

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  • Having followed this story, it seems the main draw for Clyde is BLG's top flight professional indemnity group. It will be interesting to see which other remnants of BLG (including the name) last for long.

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  • @Anonymous 10:35 am: BLG haven't "pulled off" anything. They've been asset stripped and the carcass dumped by the roadside. Hardly an achievement.

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  • Be interesting to see how many partners/staff actually cross over to Clydes on 01/11/11 and more interesting to see who is still there once the lock-in expires.

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