REG - DWF Group PLC - Internal structure update

DWFAnnouncement

22/03/2023 11:30

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RNS Number : 8868T  DWF Group PLC  22 March 2023

DWF Group plc

("DWF" or "the Company" or "Group")

 

 

22 March 2023

Internal structure update

 

DWF, the global legal business, today provides an update which will further
support its vision to be the leading global provider of integrated legal and
business services.

 

From 1 May 2023, DWF will operate through the following global structure:

 

 ●    Commercial Services - combining our commercial Legal Advisory teams with
      business services including Global Entity Management, Forensic Accountants,
      ESG Consulting and Regulatory Consulting;

 ●    Insurance Services - bringing together more than 1,600 specialists and
      combining our insurance-focused legal and business services expertise under a
      single leadership team;

 ●    Legal Operations - our alternative legal services provider, delivering
      services including eDiscovery, contract management, compliance, legal
      technology, consulting and operations, and knowledge management.

The complementary range of products and services, currently housed within
Connected Services, will now sit in either Insurance Services or Commercial
Services. Connected Services has performed strongly in recent years, with
revenue increasing from £21m in FY20 to £34m in FY22 and gross profit more
than doubling in that period. Over 70% of those revenues come from the
insurance market.

 

These changes to the Group's internal structure are a natural evolution to
those made at the start of FY22, and will allow DWF to go further in how it
delivers its integrated offering to clients.

 

Nigel Knowles, Group CEO, said: "This is the next step in our strategy,
integrating colleagues in such a way that our internal operations align with
the services we provide and the clients and markets we serve. Many of our
largest global clients are insurers and our integrated legal management
approach is of particular relevance to them. By bringing legal and business
services colleagues together into our two largest divisions, we will deliver a
truly integrated offering to clients, drive greater internal collaboration and
support profitable revenue growth."

 

"As we look to drive collaboration, scale our offerings and grow our business
globally, we will, consistent with our stated strategy, also continue to look
for opportunities to grow through M&A, adding further capability in each
division with a particular focus on core jurisdictions."

Matthew Doughty has been appointed CEO of Insurance Services and will continue
in his role as Chief Growth and Strategy Officer. These roles have substantial
overlap in responsibilities, not least in terms of implementing the Group's
integrated strategy with more of its key clients and leading on inorganic
expansion opportunities.

 

Commercial Services will be led by the Group's existing Legal Advisory CEO,
Paul Rimmer. Legal Operations will be led by existing Mindcrest CEO, Rob
Marks.

 

DWF will provide a further update on the implementation of the revised
structure and the implications for Group reporting for FY23 onwards when it
publishes its financial results for the year ending 30 April 2023.

 

 

 For further information
 DWF Group plc                         +44 (0)7971 783533

 James Igoe - Head of Communications

 H/Advisors Maitland                   +44(0)20 7379 5151

 Sam Turvey

 Sam Cartwright

 

About DWF

DWF is a global provider of integrated legal and business services provided
through its three offerings of Legal Advisory, Mindcrest and Connected
Services. It has offices and associations located across the globe. The
Company became the first Main Market Premium Listed legal business on the
London Stock Exchange in March 2019. DWF recorded Revenue of £416m and Net
Revenue of £350.2 million in the year ended 30 April 2022. For more
information visit: dwfgroup.com

 

LEI: 213800O9QREOHTOGQ266

 

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