Fixed-fee outfit Riverview Law is aiming to double in size by recruiting 100 more staff with the firm trumpeting a round of fresh instructions from top corporations, the practice announced today.
Riverview said it would be recruiting at “all levels” but declined to specify how many of the additional staff would be qualified lawyers, although a spokesman claimed it would be the majority. The firm said most of the new posts would focus on commercial and global contract practice areas, but again declined to name recently signed clients on the grounds of “commercial sensitivities”.
Riverview – which was launched about 18 months ago under the umbrella of alternative business structure (ABS) LawVest (20 February 2012) – said it would recruit mainly in the north-west of England, with most of the new staff ultimately based in its Bromborough offices in Merseyside.
The firm itself has an ABS licence application pending with the Solicitors Regulation Authority. It’s non-lawyer chief executive, Karl Chapman, attributed the growth spurt to having bagged a clutch of instructions from FTSE 100 businesses and “customers voting with their wallets”.
Riverview said it would launch a round of recruitment days next month and that it is hoping to have a first tranche of 25 appointments made by the end of the year.
The firm spokesman said the practice had recently seen a “10-fold increase of revenue”, but declined to provide specific figures. In May, Riverview cut its first formal strategic alliance by doing a deal with south practice DMH Stallard that sees the two firms exchange referrals (13 May 2013).
Riverview Law, which currently employs 85 qualified lawyers, focuses on employment, health and safety, intellectual property, corporate governance, family, divorce and environmental law, with its bid to gain market share revolving around jettisoning hourly billing in favour of a fixed-fee model.
The LawVest-Riverview operation kicked off controversially when it emerged that DLA Piper co-chief executive Sir Nigel Knowles and a small number of other partners at the transatlantic firm had personally invested in the ABS without declaring the move to the firm’s board or wider partnership (27 February 2012).