RollOnFriday can reveal that Charles Russell and Speechly Bircham are in merger talks. Bircham Russell? Hmmm, maybe Charley Speechell.
It's a case of deja vu for Speechlys, whose proposed tie up with Withers fell at the final hurdle last year. After the news was leaked both firms rushed out internal memos saying that the final vote had yet to happen: and in the end Withers walked away, leaving a bruised Speechlys to hunt around for another merger partner*.
And Charles Russell seems a natural choice. Partners at the firms earn pretty much the same - an average of £300,000 at CR and £293,000 at Speechlys. A combined firm would have have fee income of around £126m and 164 partners, making it the largest private client firm in the country by some way and a force to be reckoned with. That faint squeaking sound you hear is the collective tightening of sphincters of all the partners at Farrers...
Speechlys didn't return calls for comment. A spokesman at Charles Russell would only comment that he had "nothing to say at this point".
*Although it could take comfort that, like powerhouse Bond Dickinson, it is apparently one of the UK's 25 Most Admired Companies.
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It's a case of deja vu for Speechlys, whose proposed tie up with Withers fell at the final hurdle last year. After the news was leaked both firms rushed out internal memos saying that the final vote had yet to happen: and in the end Withers walked away, leaving a bruised Speechlys to hunt around for another merger partner*.
And Charles Russell seems a natural choice. Partners at the firms earn pretty much the same - an average of £300,000 at CR and £293,000 at Speechlys. A combined firm would have have fee income of around £126m and 164 partners, making it the largest private client firm in the country by some way and a force to be reckoned with. That faint squeaking sound you hear is the collective tightening of sphincters of all the partners at Farrers...
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Bircham Russell yesterday. |
Speechlys didn't return calls for comment. A spokesman at Charles Russell would only comment that he had "nothing to say at this point".
*Although it could take comfort that, like powerhouse Bond Dickinson, it is apparently one of the UK's 25 Most Admired Companies.
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