Future in hands of employees as regional law firm restructures

Employees of Williamsons Solicitors are now owners of the East Yorkshire firm.

The practice, with offices in Hull, Driffield and Bridlington, switched from a limited company to an employee ownership trust on February 1, with 100 per cent of shares being transferred from the two previous owners, solicitors Sarah Clubley and Jane Cousins.

The move has been made as part of succession planning and to secure the future of the 120-strong business which was founded in 1890.

Both Clubley and Cousins will continue their roles on the board of six directors responsible for strategy and day-to-day management, with four trustees in place to oversee the business, acting as guardians on behalf of all staff.

Clubley, who joined Williamsons around 25 years ago, said employee ownership would have far reaching benefits including improved performance while protecting the integrity of the firm.

She added: “It will build on our unique and collaborative culture, beloved by both staff and clients, while shielding us from acquisition or a management buyout which would place power in the hands of a few.

“All staff will have the opportunity to become more involved in decisions, but it will feel like business as usual,” she added.

Cousins said: “Becoming a 100 per cent employee-owned law firm marks an exciting milestone for Williamsons and, personally, it is a very proud moment.

“The new structure allows us to give every employee a stake in our financial success. It will empower people, attract top talent and ensure we maintain our culture and ethos while providing continuity for staff and clients.”

Work on the transaction was carried out with the help of Nigel Beckwith of Gosschalks Solicitors, and Mike Beckett of Forrester Boyd.