Argyle Lawyers, a member firm of listed entity Integrated Legal Holdings, has announced that all staff will receive equity shares in parent company ILH Limited.  This arrangement covers non-principal staff of all seniority and across all roles, such as support staff and solicitors. Shares will be allotted with full and immediate vesting rights.

This is not a one-off allocation, but a continuing profit sharing scheme which will see a prescribed percentage of the firm’s profits allocated to staff in the form of ILH shares each year. Managing principal Peter Bobbin told ALB that no decision had yet been made as to whether these shares would take the form of a fresh issue, or via an acquisition of pre-existing shares.

Practice director Janice Duncan said the firm was motivated by the desire to attract and retain talent. “Our shareholder trust and client confidence in Argyle’s services is directly dependent on employing the best people in their field. Our business plan has been to create an intelligent and collegiate environment; the time is now right to reward all staff with a part of the equity that they help create,” she said.

From April 2013, Argyle Lawyers will be known as Rockwell Olivier in line with a move to adopt standard branding across the ILH group.