The Law Firm Financing Summit:
Financing strategies in the post-Legal Services Act World
Wednesday 9th March 2010
Central London

The long wait for law firms to use Alternative Business Structures is almost over. Next October, the third and final stage of the Legal Services Act will come into force, permitting UK law firms to accept outside equity for the first time. Firms should already be preparing themselves for a change that will fundamentally reform the profession and create opportunities for new financing approaches to underpin growth.

This topical conference, which focuses on the key issues that firms need to consider in relation to their financing options for next year, will provide an opportunity to gain an in-depth understanding of the advantages and disadvantages of the main funding sources that will be available to firms and what is involved in the process of bringing in external finance, not just in terms of attracting investors, but also in relation to the impact on the culture and management of the firm in the long term.

Among the topics that will be covered are the following:

• The regulatory framework and financing options
• Preparing the firm to take advantage of external financing opportunities - venture capital, mezzanine finance, private placements, private equity and IPOs
• Private equity investment - adapting the private equity model to the specific needs of law firms
• Capital options for law firms
• Case study on structuring to receive private investment: MJ Hudson
• Initial public offerings - pros & cons, preparing the firm, due diligence, setting the offer price
• Financing by the banks and relevant capital structures
• Case study on life as a quoted company for a professional services firm: RSM Tenon plc
• Financing - a tax perspective
• Understanding the institutional investor private placement market
• Mergers & Acquisitions - drivers, new entrants, valuation and acquisition & defence strategies
• Panel discussion - how will firms choose to use the new financing options open to them?

Espírito Santo Investment Bank (BESI) is the investment banking subsidiary of Portugal's Banco Espirito Santo Group.

Over the past 10 years, BESI has invested in international expansion and recently acquired a controlling stake in Execution Noble, a leading international investment banking group providing clients with execution; equity sales and trading; research; M&A; corporate finance; corporate broking; equity capital markets; and corporate access.

Headquartered in London and Lisbon, with around 1000 professionals and offices in Madrid, Edinburgh, Dublin, Paris, Warsaw, New York, Mexico City, Sao Paulo, Luanda, Mumbai and Hong Kong, BESI services many of the world's major investing institutions, including mutual funds, pension funds, insurance companies and hedge funds and partners with hundreds of listed and unlisted growth, mid-cap and blue chip companies around the world.

Empowered by its technology and differentiated by its people, BESI also provides access to the market's core liquidity providers through extensive personal relationships and expertise.

08:55 Chairman’s opening remarks - Stephen L Schechter

09:00 Keynote address: The regulatory framework and financing options - Antony Townsend

09:30 Preparing the firm to take advantage of external financing opportunities - John Llewellyn-Lloyd

10:00 Private equity investment – Wol Kolade

10:30 Capital options for Law Firms - Jane Galvin

11:20 Live interview between Matthew Hudson and Paul Hodkinson

11:50 Initial public offerings - David Snell

12:20 Case study: RSM Tenon plc - Andy Raynor

14:00 Financing – a tax perspective - Alison Bond

14:30 Understanding the institutional investor private placement market - Stephen L Schechter

15:00 Panel discussion

• The Law Firm Financing Summit: Financing strategies in the post-Legal Services Act World (Documentation)
• Espírito Santo Investment Bank (BESI)