Alston Law has become part of the Simpson & Marwick brand following a successful acquisition by its parent company. The combined businesses will have fee income amounting to some £5 million.
The move takes Simpson & Marwick’s headcount to more than 70, while the absorption of the specialist firm also gives it a slew of well-established contracts with top housebuilders, panel managers and lenders across the UK.
Alston Law is best known for its lender services, in particular remortgages and debt and asset recovery, which will remain a distinct specialism.
Simpson & Marwick managing partner Rob Aberdein said: “We know the lender services sector well. This is a tremendous opportunity to develop an area where we have the technology, understand regulatory compliance and where both customer service and specialist knowledge are coveted by clients.
“We understand the sensitivities that are particular to the Alston Law client base. Our first job has been to meet with clients and reassure them that they will continue to see the same outstanding levels of service and expertise. Indeed, we plan to invest in enhancing the service they receive.”
Alston Law’s 40-strong team provide legal services almost exclusively to FCA-regulated companies in the financial sector. Its specialisms include litigation to recover loans, commercial debt and assets including property. It also has extensive experience in the asset and motor finance recovery sector.
The Alston Law brand will continue for all litigation and debt recovery services, however all property and conveyancing services, including remortgages, will now be part of Simpson & Marwick.
In October, Simpson & Marwick became part of Moray Group, which launched in September.
Aberdein added: “With its history and pedigree it makes perfect business sense for this large number of property transactions to come under the Simpson & Marwick banner.
“We expect to help almost 10,000 Scots with their remortgage during 2021 and we hope that many of those people will become long-term Simpson & Marwick clients for both estate agency and legal services in the future.”
Denise Loney, the outgoing managing director of Alston Law, will remain as a director with Simpson & Marwick. She said: “We’re incredibly proud of the team and what they have achieved. Becoming part of a firm like Simpson & Marwick is the ideal way to start the next, exciting chapter for the firm and I have no doubt that everyone involved will go on to enjoy considerable success.”
Richard Loudon, chairman of Simpson & Marwick, said: “Adding the Alston Law specialisms to our property-related work is a superb addition to the business.”
Aberdein said Alston Law’s support staff and systems, including HR, finance, marketing and IT, will be the foundations for the growth of Simpson & Marwick.
He added: “That is a crucial ‘next piece in the jigsaw’. Alston Law’s 6,000-square foot office on Glasgow’s Renfield Street will become our national headquarters, a central operations hub and an engine room for our growth.”