Wiggin promotes COO to chief exec in preparation for ABS conversion

Media boutique Wiggin has appointed John Banister as its first non-lawyer chief executive and admitted him to the partnership.

Banister had previously been chief operating officer of the firm and had been responsible for strategic, financial and management matters.

Prior to joining Wiggin, Bannister had held positions at Merrill Lynch, KPMG and Linklaters.

It is believed that the firm plans to take advantage of the recently enacted Legal Services Act (LSA) by converting to an alternative business structure (ABS).

The SRA has received 65 applications from firms looking to convert to an ABS in its first two weeks of taking submissions (19 January 2012).

Yesterday Liverpool firm Silverbeck Rymer launched its bid to become the first law firm to be acquired by a listed company after Quindell Portfolio announced it had agreed to pay almost £20m for the firm (24 January 2012).

Quindell has plans to build a portfolio of personal injury services. Its deal with Silverbeck Rymer comes just a month after it bought out medicolegal agency Mobile Doctors.

Today the company took a 29.9 per cent shareholding in claims management company Ai Claims Solutions and further deals are expected.

“Ai Claims Solutions broadens our overall proposition in insurance, legal services and associated medical reports, and accident management,” said Quindell chief executive Rob Terry.