Scottish law firm Morton Fraser has invested in its private client offering with two "unconnected but strategically consistent" deals.
The independent Scottish law firm has agreed with Addleshaw Goddard to take on its ten-strong Scottish private client team as part of a move to focus its private client offering on tax and succession planning for individuals, families, business owners and executives.
Separately, the firm has agreed terms to take a minority stake in Coulters and in doing so transfer its eight-strong residential property team to the Edinburgh estate agency.
Morton Fraser will no longer directly provide estate agency work. Instead, it will now boast one of Scotland’s largest private client offerings with a team of over 60.
Chris Harte, chief executive of Morton Fraser, said: “Being an independent firm means we have the freedom to determine what investments will best serve our clients and our people. These opportunities mean we will bring in yet more fantastic talent to our private client team while at the same time allowing our residential property team a great opportunity to be part of a leading estate agency brand.
“The estate agency sector is increasingly competitive and requires a single-minded commitment to a consumer brand, something Coulters is already delivering with aplomb. Our minority stake in Coulters means we will still have the ability to offer first class estate agency services to our clients. However, it also means our talented team will be given the opportunity to contribute to a growing business in a way we could not realistically have offered.”
The Addleshaw Goddard Scottish private client team is led by Gregor Mitchell, who will join Morton Fraser as a partner alongside Euan Fleming and a team of eight consultants, solicitors, paralegals and executive assistants.
Malcolm McPherson, senior partner – Scotland for Addleshaw Goddard, further commented: "The team leave with our thanks and best wishes, as they join a firm which is a better fit for their experience, expertise and client portfolio, while AG's core market-leading private capital team, based in Leeds and Manchester, continues to be a key part of our business focusing on ultra and high net worth individuals, corporate entities, family offices, trust companies and charities. We will be communicating directly with clients over the next few weeks on the details of the transfer."
Based in Edinburgh and Glasgow, Morton Fraser has over 270 staff and traces its history back to the early 17th century.
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