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Hodge Jones & Allen to be entirely owned by employees

3rd December 2018

Hodge Jones & Allen has announced it is going to be entirely owned by its employees. Its founder and other equity partners will sell the business to an employee ownership trust. 
The change aims at ensuring the firm's staff are able to reap the benefits as well as promoting the ethos of the firm.
John Lewis, as well as various other law firms, have a similar model. The change will mean that all 230 employees will become beneficiaries of the company and receive an annual tax-free distribution of up to a maximum of £3,600 per staff member.
The firm will trade and run in the same way, however now 100% of the shares of the new limited company will be owned by the trust.
Patrick Allen, the sole remaining founding partner, will act as trustee alongside managing partner Vidisha Joshi and business consultant Kingsley Tedder, who will act as an independent external trustee for corporate governance and compliance.
Mr Allen:

“Becoming employee
owned reflects the people-first entrepreneurial spirit that has been the backbone of HJA since 1977. I
t provides continuity for our partners and staff, and therefore our clients. It is the perfect model for a firm like ours. I wanted to ensure that the firm could continue to grow in the same way as I intended when I founded it over 40 years ago. We have a fantastic team and we help people who may not always be able to access advice and redress. I see this as a way in which my vision can go forward and thrive into the future.”