Vannin Capital - a global expert in the provision of funding to support individuals, corporate clients and law firms in the successful resolution of high-value litigation and arbitration claims - has announced the appointment of former Allen & Overy Senior Partner David Morley as its Chairman, effective immediately.
Winning the first of three successive leadership elections at the 'Magic Circle' firm Allen & Overy LLP in 2003, David was the firm's Managing Partner until 2008, and then served as Global Senior Partner until 2016. During his leadership tenure, the firm's revenues doubled from £652m to £1.31bn, resulting in 175% profit growth from 2004 to 2016. He retired from the firm at expiry of the mandatory two term limit as Senior Partner in 2016, after 36 years with the firm.
Among his many accolades, David has been recognised with Special Achievement Awards by The Law Society and the Financial Times Innovative Lawyers, as well as awards by The American Lawyer, The Times and Legal Week. In 2011, he founded and served as the first Chairman of PRIME, an alliance of law firms across the UK committed to improving access to the legal profession through work experience. Since 2016, David has built a successful leadership and consulting business. He also serves as Chairman for private equity fund Elaghmore, Chairman of Allen & Overy's newly established leadership centre and as Honorary Visiting Professor at Cass Business School at City, University of London. David is also a Meyler Campbell trained business coach.
David's hire as the new Chairman of Vannin Capital represents the latest in a series of appointments of exceptional business leaders with proven experience of running major, fast-growing international businesses. These include Richard Hextall, formerly of global insurer MS Amlin, as Chief Executive Officer and David Collins, formerly of Prudential plc, as Group CFO, both appointed within the last year.
In the role of Chairman, David succeeds co-founder Dan Craddock, whose leadership has grown Vannin Capital into a major player in the legal finance market. Dan will move to the role of Deputy Chairman, and will also continue to serve as Chair of the firm's Funding Committee.
Dan Craddock, Deputy Chairman of Vannin Capital and Managing Director of Bramden Investments, commented: "David is known and respected the world over as a proven business leader and legal services innovator, and I am delighted to welcome him as the new Chairman of Vannin Capital. His appointment underscores Vannin's strategic intent and continues the strengthening of the senior team's ability to deliver its ambitious, sustainable growth strategy."
David Morley, Chairman of Vannin Capital, said: "I have watched Vannin's evolution over the past few years with great interest, rapidly emerging into a major dispute funder. An evolving market landscape and growing demand for dispute funding provides a robust opportunity for strong and sustained growth, for which Vannin Capital is well positioned. I look forward to playing my part in helping to shape and realise Vannin's future success."