Simmons targets financial services clients with launch of temp lawyer business
Simmons & Simmons has entered the rapidly expanding contract lawyer market with the launch of a freelance lawyer service.
October 06, 2014 at 06:41 AM
2 minute read
Simmons & Simmons has entered the rapidly expanding contract lawyer market with the launch of a freelance lawyer service.
The legal resourcing business, called 'Adaptive', will offer a pool of lawyers available to work on a contract basis. The consultants are self-employed and are individually regulated.
Services will include strategic secondments which have scope to be based either at Simmons' London office or with clients.
The initiative is aimed at clients in the UK, primarily in the City. Simmons managing partner Jeremy Hoyland (pictured) said the firm is currently in talks with potential recruits, who he expects would have experience of "around mid-associate level".
Hoyland told Legal Week: ""The initiative was designed around specific mandates but the beauty of it is that we can also use it for periods of excessive demand. We are targeting our existing client base with this initiative; we are focusing on client service and delivery by being able to staff large projects effectively and efficiently."
He added that the majority of clients interested in the scheme are from the financial markets sector, particularly banks.
Head of financial institutions Jonathan Hammond, who is spearheading the initiative, said: "For some time, we have been considering more ways we can use flexible resourcing to meet business demands. Simmons & Simmons Adaptive will provide another valuable resource option for our clients and their businesses."
The move follows similar ventures such as Pinsent Mason's Vario business, Eversheds' Agile service and Berwin Leighton Paisner's (BLP) Lawyers on Demand. BLP was one of the first major firms to offer freelance lawyers on a temporary basis with the launch of Lawyers on Demand in 2008.
Earlier this year Pinsents outlined aims to double its fee income target from Vario. The initative took two and a half times its target revenue in its first year, and has more than 100 lawyers on its books.
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