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Irwin Mitchell: we’ll float and take on the mid-tier

There seems to me to be a major "disconnect" at play here. To Jerome's point - IM is a firm which is better suited than any UK firm to provide volume, commoditised, consumer facing private client services. As such, this half of the quation balances and makes sense. The disconnect comes on the Corporate side of the equation. In any given town or city, there are firms which have always balanced the Private and Corporate work, but increasingly these firms look like a dog's dinner in terms of their branding. Nationally (and with the funding IM are looking at, it very much has to be national brand) I can't think of one firm which succesfully balances Private Client/PI and Corporate work. The reasons for this are various but include cultural differences, different operational models, charge out rates and profitability and, not least, conflicts of interest. As such, if IM were looking to do this purely as a PI/Private Client Business it makes sense, but I suspect Barry is nearer to the mark given the apparent push on the Corporate side. As a detatched observer, it will make for fascinating viewing.

4-May-2011

4:13 pm