UK's AIM-listed firm's latest move comes in response to the demand for debt advice
The legal and professional services firm Knights has become UK's first professional services firm to establish a debt advisory business in response to the mounting demand for debt advice.
The Alternative Investment Market (AIM)-listed firm announced that its team of specialist debt advisers comprising corporate bankers and lawyers, will act independently from lenders to offer clients a proposition whereby they can receive both debt and legal advice from one business house.
The team will include Tony Dean, who is joining the firm in Manchester as a debt advisory partner after five years as director of Santander Group's UK operations, and Jonathan Edwards, a veteran banking lawyer and former head of banking at DWF who joined Knights as a partner from Browne Jacobson.
Dean explained, "With the increasing presence of challenger banks and debt funds with capital to deploy, there is increasing competition with clearing banks who are also looking to grow their balance sheets."
He cited the withdrawal of various government schemes that supported businesses throughout last year's lockdowns as a reason for the increase in demand for specialist debt advice as the UK enters the post-pandemic economy.
David Beech, Knights' CEO updated, "With a focus on providing excellent client service, there is a significant opportunity for us to expand the deep, trusted relationship we have developed with a number of clients seeking integrated expertise."