Ashfords chief executive Ian Daniells is set to return to fee earning following the firm’s bolt-on merger with Rochman Landau and a subsequent management reshuffle.
Following Ashfords’ acquisition of Rochman Landau in March (5 March 2012), the firm has decided to slim its board, which had grown to 10 members.
The new board will comprise chairman Simon Rous, chief financial officer Phil Strange, head of real estate Mark Jury, head of commercial Garry Mackay and private client head Judith Park. Members are appointed to the board for a three-year term.
Chief executive Daniells, who has been in the role since 2006, will return to a senior fee-earning role in the firm’s commercial litigation practice. According to Rouse, it was Daniells’ suggestion to reduce the size of the board.
Rous said in a statement: “Ashfords has much to thank Ian for. During a time when the legal services market has faced tremendous pressures, Ian kept us focused and kept us moving. He played a major role in our merger with Rochman Landau and was instrumental in the integration work that followed.”
Turnover at Ashfords for the 2011-12 financial year was flat at £24m, but net profit rose from £4m to £7.5m. Average profit per equity partner rose 17 per cent to £239,000 (13 July 2012).