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Barclays’ vice president for wealth and investment management has returned to his former outfit Tods Murray after two years in-house.
Iain Wishart rejoins the Scottish firm as head of its real estate finance team after leaving two years ago for the London-based position at Barclays. He replaces outgoing partner Roddy Maclennan.
His return to private practice marks Wishart’s second move from London to Tods Murray’s Edinburgh office. He joined Clifford Chance from Tods Murray, where he trained, in 2007 before returning to Scotland three years later.
Tods Murray has set out an ambition to grow through joining forces with other firms in Scotland. The firm merged with Edinburgh-based private client boutique Fyfe Ireland in January last year (23 January 2012), a move which boosted Tods Murray’s private client base by 35 per cent.
Wishart said: “This is a significant time for the real estate finance market as the economy starts to genuinely recover from the prolonged depression.”
The firm’s executive partner David Dunsire added: “We are finally starting to experience renewed confidence in the economy and we are delighted to have a lawyer of Iain’s stature to lead the team and fully grasp the opportunities in the marketplace.”
Tods Murray grew its turnover in 2012/2013 from the previous year, with turnover standing at £12.6m, up by 7 per cent from its audited 2011/12 figures (12 August 2013).
Merger talks have become ubiquitous in the Scottish market as firms look to adapt to the fiercely competive environment. Other recent Scottish mergers include the tie-up between Burness and Paull & Williamson (9 October 2012), while McGrigors and Biggart Baillie both found UK partners in the shape of Pinsent Masons (6 February 2012) and DWF (7 June 2012).
See The Lawyer’s Scotland special report, Stronger together, for a full analysis of the market.