Clydes set to cherry-pick BLG teams pre-merger

Clyde & Co has drawn up a shopping list stipulating exactly which teams it wants from Barlow Lyde & Gilbert (BLG) to allow the proposed merger between the two firms to go through.

Roger Doulton
Roger Doulton

Partners at the firms are due to vote on the £300m deal later this week, with Clydes going to the polls on Thursday and BLG partners on Friday (28 and 29 July).

It is understood that a list has been drawn up by Clydes partner Roger ­Doulton, who was one of a trio of high-level insurance partners who quit BLG in May 2009 to join Clydes.

A source close to the firm said: “There’s a list circulating, and the rationale being given to those people who aren’t on it is that there’s too much of a clash between the practices or that Clydes already has too many senior people in a particular area.”

Top of the most-wanted list is BLG’s professional indemnity practice, led by partner Sarah Clover, which is understood to be fully supportive of the merger. BLG’s general insurance practice is also attractive to Clydes.

BLG needs 75 per cent of its 98 partners to support the merger for it to go through. Sources said ­partners will be asked to sign a lock-in agreement guaranteeing their commitment to the merged firm.