Source: Alvarez & Marsal
Alvarez & Marsal Legal Services (AMLS) and BDB Pitmans have signed a Letter of Intent, agreeing to explore the creation of a new International law firm called Broadfield aimed at supporting mid-market private capital and corporate clients.
Once formed, Broadfield will engage AMLS to provide management services to the new firm including technology, back-office services and strategic services for growth initiatives and will also assist in procuring investment capital for the growth of the firm. In addition, AMLS will explore opportunities for Broadfield to partner with A&M in certain service areas where appropriate for clients.
Peter Sacripanti, the Global Head of AMLS said: “Mid-market law firms are generally confined to domestic footprints. They have been facing pressures arising from increasing competition and increasing technology investment demands. Broadfield will have the scale, efficiency and technology to provide a superior service and enable investment in growth. Our objective is to assist Broadfield to build a major international law firm unlike any other in the market.”
John Hutchinson, Managing Partner of BDB Pitmans, added: “Big law firms are pricing themselves out of quality work, yet mid-market firms are failing to capitalize on this dynamic due to structural headwinds. Broadfield is the answer to this problem. We are excited to be working with AMLS in building a compelling client offer that stays true to our heritage and the quality expertise that our clients expect, underpinned by a first-class operating model.”
Read full article: https://www.alvarezandmarsal.com/insights/new-international-mid-market-focused-law-firm-broadfield-be-established-bdb-pitmans
