Hill Dickinson to recruit first ever COO in shakeup of management structure
Firm appoints Jackson as chief executive as it plans to recruit first chief operating officer
October 28, 2016 at 09:02 AM
3 minute read
Hill Dickinson has appointed longstanding managing partner Peter Jackson as its first chief executive officer, following a partnership vote.
At the same time, senior partner David Wareing will become chairman, with the moves paving the way for the firm to recruit its first ever chief operating officer (COO).
Jackson was elected unopposed to his new role by the partnership. He will take up the CEO position on 1 November for a four-year term.
Jackson said: "As we have grown and as markets have become more complex, it has become the case that the managing partner's combined role of CEO/COO is unsustainable – it is too big a role, so we decided to split that role and introduce a COO.
"Day to day, the COO will have responsibility for running the business and the CEO will focus on our clients and the firm's strategy," he added.
On the question of whether the hire of a COO would lead to a shake-up of the firm's business, Jackson said: "No, we have a pretty established support network with roles in place for some time. I don't anticipate any wholesale changes as a result of this."
Hill Dickinson made a series of layoffs between 2013 and 2015, as the effects of the financial crisis and difficult trading conditions in key markets such as insurance and maritime hit the firm.
Jackson has been the firm's managing partner since 2005, serving three consecutive terms in the role.
The firm's partnership deed previously restricted managing partners to two consecutive terms; however, Jackson was allowed to stand for a third term as a one-off measure. The deed was subsequently amended to allow managing partners to stay on indefinitely with support of the partners.
Jackson said the deed was amended again to usher in the latest changes, with the partnership unanimous in support.
"There was a vote on the partnership deed – that was unopposed and then my election was unopposed. We have got everybody aligned to it," he said.
Wareing was appointed as senior partner in 2011 and reappointed to a second term in May this year, after standing unopposed for the role. He was previously the firm's managing partner between 1998 and 2005.
Hill Dickinson's results for the last financial year showed a 1.2% dip in revenue to £103.1m, while profit per equity partner grew by 20.6% to £314,000.
In January, the firm brought on board partners Iain Donaldson and Mark Weston in London, along with their respective teams, from now defunct Watford firm Matthew Arnold & Baldwin (MAB). Donaldson was head of MAB's wealth management team while Weston led MAB's commercial, intellectual property and IT team, and was head of the firm's technology sector group.
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