In the financial year 1999-2000, corporate and finance work accounted for 34 per cent of Taylor Joynson Garrett’s (TJG) total business.
Understandably then, at 28 partners and 85 fee-earners, the corporate and finance group is one of the largest in the 49-partner firm. There are 19 corporate finance partners in the group, working under finance head Rodney Dukes. Tim Eyles is the corporate and overall head.
Most of the firm’s initial public offering (IPO) work comes from referrals from AIM-nominated advisers (nomads). Simon Walker and Tim Stocks take care of the bulk of the AIM work, although it is not their sole practice area. Stocks has a specific relationship with the investment houses and brokers, a key one being Brown Shipley. Like many firms, TJG started doing AIM work through its reputation on the Unlisted Securities Market (USM).
Its strength over the last 18 months has been in acting for issuers. Along with Olswang, it has topped the ‘issuer by volume’ table, as well as coming fourth in the ‘issuer by value’ chart. The majority of this work came through referrals from the corporate finance houses. Very rarely, says Walker, do they get cold-called by companies looking for representation.
Fees range from the £50,000-70,000 mark right up to £150,000 for extremely complex work.