CEO of Allen & Overy's flexi-lawyer business quits firm
Richard Punt had led Peerpoint since joining magic circle firm from Deloitte in 2014
January 14, 2019 at 06:45 AM
2 minute read
Allen & Overy's flexible legal services business head Richard Punt has left the magic circle firm, in the second senior departure to emerge today.
Punt has led the firm's contract lawyer business Peerpoint since 2014, when he was joined from Deloitte as its first standalone chief executive.
He will be replaced by Peerpoint founder and managing director Ben Williams and Asia-Pacific head Carolyn Aldous, who will co-lead the business.
Peerpoint, which was launched in London in 2013, draws on a bank of contract lawyers – referred to as consultants – to assist clients on projects during periods of high demand.
It has expanded internationally since its launch, opening in Amsterdam via a pilot in 2017, which has since been made permanent.
Speaking to Legal Week last year, Punt said further continental European growth was on the cards, with Frankfurt viewed as a possible location. The firm is also moving towards launching the service in the US, with New York the most immediate priority.
Punt spent more than 18 years at Deloitte, where he was managing partner for clients and markets.
A&O senior partner Wim Dejonghe said: "Richard has been instrumental in the success of Peerpoint, which is the market-leading consultant lawyer business and is at the heart of A&O's advanced delivery capability. We will miss his energy and intellect and wish him every success in the future."
Punt's next role is as yet unknown. News of his exit comes after Deloitte today (14 January) announced that it had recruited senior A&O finance partner Michael Castle as its first permanent UK head of legal.
Castle, who had been at A&O for two decades, stood for managing partner in the firm's most recent elections, with Andrew Ballheimer eventually securing the role after seeing off competition from Castle, banking co-head Andrew Trahair and corporate finance partner Simon Black, who has also since left the firm.
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