Bevan Ashford goes national
Southwest firm to integrate regional profit centres to quell discontent
August 02, 2001 at 06:55 AM
2 minute read
Bevan Ashford is to form a national partnership by integrating its two regional profit centres as the southwest firm moves to quell discontent between the firm's different offices.
The firm, which has offices in Bristol, London, Birmingham, and across the West Country, is currently divided into two profit centres. Bristol, Birmingham, and London form one centre, with the West Country offices forming the second.
The Cardiff office, which de-merged from the partnership earlier this year, was in the Bristol, Birmingham and London profit pool.
"We have always been two profit centres," said Bevan Ashford chairman and Bristol, London and Birmingham chief executive Nick Jarrett-Kerr. "But we do not think that is the model for the future."
Under the current system each profit centre pays for central running costs, but after that each centre shares its profits between its own partners.
Jarrett-Kerr conceded that in the past the firm has had some conflict problems between the two halves of the firm.
The firm plans to introduce full profit sharing and an integrated management system early in the next financial year.
"It is a big job so I do not think it will happen by 30 April 2002, but it should come into place soon after," Jarrett-Kerr said.
Legal Week understands that the firm's two-profit centre policy has been a cause of friction among the partners. "Bevan Ashford is essentially two firms practising under one name," said one former Bevan Ashford lawyer. "The two profit centres can sometimes become competitors. There is always in-fighting. There are moves underway to build a proper partnership as a way to stop the fighting – they would be crazy not to."
Although the firm does not break down its individual performance centres, firm-wide income last year reached £31.5m, with average profits per equity partner of £165,000.
Legal Week also understands Jarrett-Kerr is considering stepping down as Bristol, Birmingham and London chief executive. He will probably stay on as overall chairman, but he may start up a consulting arm.
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