Start-ups: CC and IMG lawyers team up while Abbey solicitor goes it alone in banking


Three lawyers from City giant Clifford Chance and sports management company IMG have teamed up to launch a specialist sports, entertainment and fashion firm.


Onside Law, set up by Clifford Chance senior associate Simon Thorp and IMG in-house lawyers Oliver Hunt and Jamie Singer, opened for business last month.


The London-based niche practice aims to provide specialist corporate and commercial advice primarily to the sports, entertainment and fashion industries, as well as quasi in-house legal services to the wider corporate community.


Mr Thorp said: 'We offer a unique blend of magic circle and industry experience - a combination of high- quality legal skills and inside-out knowledge of the industry. Using larger firms can be expensive and clients often want more practical advice than the sound but frequently long-winded advice given by large City firms.'


He added: 'Our overheads are low and we aim to offer a very effective service at a good price. We do plan to expand - a few people have already contacted us wanting to join, but it's early days.'


Malaysian Airlines, the French tennis federation, a FTSE 100 company, and the management company of golfer Nick Faldo have already instructed the new firm.


Among the sports stars, the founders have also worked for in the past are tennis player Tim Henman, England football team coach Sven Goran Eriksson, and Formula 1 racing driver Ralf Schumacher.


A former in-house lawyer at Abbey's treasury services department has launched what is thought to be the first niche law firm specialising in derivatives law.


Set up last month, Glen Western is the brainchild of Faiz Khaki, who trained at the legal department of investment bank ING Barings.


Mr Khaki said: 'The great thing is that the fees are much lower than those charged by the likes of the top City firms. There are also not many firms that are willing to take on ISDA-related (International Swaps and Derivatives Association) work.'


He added that the firm would be well placed to provide in-house banking teams with extra capacity at times when demands on their services are particularly great.