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Unanimous vote sees Crossley kept on as Hammonds chief

Author: Claire Ruckin

Published: 17/12/2007 15:01

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Peter Crossley has been formally re-appointed as Hammonds managing partner, it was announced today (17 December), taking the helm of the national giant for a second term

Crossley, who stood unopposed in the leadership election, will continue in the top role after gaining the unanimous support of the partnership in a vote that closed on Friday (14 December).

The former litigation chief, who replaced veteran leader Chris Jones in the role in May 2005, will now continue for a further three years when his present term expires on 30 April, 2008.

In an unusual system, the weight of partners’ votes varied dependent on their position in the lockstep.

Hammonds director of strategy and tax strategies chief Bernhard Gilbey commented: "This is a great time to be on the Hammonds train, as evidenced by the unanimous support from the partners for continuing Peter's successful leadership."

Crossley is widely credited with steering Hammonds through its most challenging period in recent history and was named on the shortlist for the Managing/Senior Partner of the Year award at the 2007 British Legal Awards.

This year Hammonds announced a strong financial performance, charting up a 23% surge in average profits per equity partner from last year’s figure of £328,000 to £404,000 against a broadly static turnover. Total profits were up 11% to £29.3m while the firm also said it had reduced its overdraft – which once stood at around £30m – by approximately 65%.

The figures followed a difficult few years for the top 20 UK firm, characterised by a raft of senior departures.

Crossley famously helped Hammonds successfully defend itself from a £142m negligence claim from the Football League in mid-2006.

However, the firm is currently fighting a £3m profits dispute with a group of 14 ex-partners, with the case management conference scheduled in the new year. The two-year dispute centres on an alleged breach of partnership agreement, with the ex-partners refusing to pay back anticipated profits over a two-year period to April 2005.

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