Penningtons Manches has been recognised by The Lawyer magazine in its shortlist for this year’s Management Awards which acknowledge excellence in operational and strategic management across the UK legal sector.
The 2014 awards focus on a range of support disciplines, including business development, HR, knowledge management, finance, IT, risk and compliance and facilities. Penningtons Manches has been shortlisted for ‘excellence and/or innovation in law firm financial management’. This category celebrates firms which have either implemented a consistently strong financial management strategy throughout the past year or have undertaken individual stand-out finance projects. Teams must demonstrate that they have had a significant impact on the business as a whole.
The swift action taken by Penningtons’ finance team and management board in the weeks leading up to the completion of the transaction which saw Manches join forces with Penningtons in October 2013 is highlighted in Penningtons Manches’ nomination for the awards. Their agility allowed them to work closely with a number of stakeholders involved in a deal which was driven by the strong synergy between the two parties and resulted in the completion of a thorough due diligence process and detailed financial model within a shorter than customary timeframe.
Speaking following the publication of the shortlist, Penningtons Manches chief executive, David Raine, said: “We are delighted to have received this accolade. It highlights the contribution not only of the finance and management board teams but also those across both firms who were committed to steering the deal to a successful conclusion last Autumn. Their activity provided a clear endorsement of the long term strategic thinking which shaped the transaction.”
The winners of the Management Awards will be announced at a ceremony taking place in the City on 22 October 2014.