Andrew Loach joins Addleshaw Goddard as TST chief operating officer
Andrew Loach has joined Addleshaw Goddard as chief operating officer of its Transaction Services Team (TST). The firm expects to be delivering at least 10 per cent of its work though this centralised team by 2015.
The TST provides a range of routine assignments in either a standalone or integrated way alongside the firm’s qualified lawyers and was launched by Addleshaw Goddard as an alternative, more efficient approach to the conventional delivery of standardised process by law firms that have become outdated and do not need to be done by qualified lawyers.
Other developments from Addleshaw Goddard in response to a changing legal landscape where clients are expecting more value for their legal spend include new technology, more efficient resourcing — including greater collaboration with other law firms — and a more flexible and transparent approach to pricing.
Currently numbering 60 paralegals, the Manchester-based team has grown rapidly since its launch in 2010 and remains the only onshore operation of its kind offered by any UK law firm.
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Welcome to the latest edition of Addleshaw Goddard’s Employee Incentives Update, which contains a round-up of key developments in this area during August 2014.
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The past five years have not been easy for Addleshaw Goddard. The firm’s revenue fell 7 per cent from £173.1m to £161.9m between 2008/09 and 2010/11 and despite finances looking up in 2011/12, when Addleshaws reported a 30 per cent increase in net profit, it has shown no notable compound growth in turnover since 2007/08.