Ince & Co shipping head returns four months after leaving
Faz Peermohamed left Ince & Co late last year to join the Norwegian Hull Club as CEO
April 29, 2016 at 11:57 AM
4 minute read
The original version of this story was published on Law.com
Ince & Co has re-hired its global shipping head four months after he left the firm for major shipping insurance client the Norwegian Hull Club.
Faz Peermohamed left the firm last year to join the Norwegian Hull Club as CEO, but has had to leave the role due to re-location issues. He has been at the company since 1 January this year.
In a statement the Norwegian Hull Club said: "Mr. Peermohamed has informed that a change to his personal circumstances means he is no longer able to relocate his family to Norway. He will return to London where he expects he will return to practice law."
Peermohamed has spent a total of 22 years at Ince & Co and headed the firm's shipping practice prior to his departure.
Ince international senior partner Jan Heuvels said: "I am delighted that Faz is returning to Ince & Co, both from a professional and personal perspective. Faz and I joined Ince & Co some 23 years ago and during that time established a very close working relationship."
Peermohamed's return can be seen as an un-expected win for the firm, which has had a difficult few years with falling revenue and repeated partner exits, as well as making a number of redundancies.
The firm reported revenue of £79.4m in 2014-15, down from £86.7m the previous year.
Profit per equity partner fell to £275,000 down from £390,000, according to Legal Week's UK Top 50.
The firm has also been through two rounds of redundancies in the last two years.
In spring 2014 it cut 16 roles in London following a redundancy consultation.
That was followed by the exit of six partners following a restructuring exercise in April last year. It is understood that the six partners that departed were in the firm's shipping, insurance, aviation and energy practices.
However, since January 2015 the firm has hired seven new partners across its offices in the UK, Middle East and Asia.
Ince & Co has re-hired its global shipping head four months after he left the firm for major shipping insurance client the Norwegian Hull Club.
Faz Peermohamed left the firm last year to join the Norwegian Hull Club as CEO, but has had to leave the role due to re-location issues. He has been at the company since 1 January this year.
In a statement the Norwegian Hull Club said: "Mr. Peermohamed has informed that a change to his personal circumstances means he is no longer able to relocate his family to Norway. He will return to London where he expects he will return to practice law."
Peermohamed has spent a total of 22 years at Ince & Co and headed the firm's shipping practice prior to his departure.
Ince international senior partner Jan Heuvels said: "I am delighted that Faz is returning to Ince & Co, both from a professional and personal perspective. Faz and I joined Ince & Co some 23 years ago and during that time established a very close working relationship."
Peermohamed's return can be seen as an un-expected win for the firm, which has had a difficult few years with falling revenue and repeated partner exits, as well as making a number of redundancies.
The firm reported revenue of £79.4m in 2014-15, down from £86.7m the previous year.
Profit per equity partner fell to £275,000 down from £390,000, according to Legal Week's UK Top 50.
The firm has also been through two rounds of redundancies in the last two years.
In spring 2014 it cut 16 roles in London following a redundancy consultation.
That was followed by the exit of six partners following a restructuring exercise in April last year. It is understood that the six partners that departed were in the firm's shipping, insurance, aviation and energy practices.
However, since January 2015 the firm has hired seven new partners across its offices in the UK, Middle East and Asia.
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