Wales-based law firm Geldards has undergone a management shake-up creating a five-partner executive team for the first time.

The team will be headed by the new chief executive, corporate finance partner Jeff Pearson. Pearson will be joined by partners Mike Butler and Mike Jeffs.

Former East Midlands senior partner David Williams has been appointed as non-executive chairman of the firm, while Cardiff-based Huw Williams becomes non-executive vice chairman.

David Williams said the former management structure needed to be reviewed in order to provide the firm with an improved system which is more appropriate for a modern and expanding business.

“Legal firms which stagnate are, quite frankly, on the road to nowhere and we believe our new management team will enable Geldards to continue to boost its reputation for excellence in the years ahead,” said David Williams.

The announcement follows, revealed in The Lawyer’s UK 200 Annual Report, the firm’s restructure which saw it sell off its 30-strong debt collection team in Cardiff and downsize its claim management team.