Leading independent Isle of Man law firm, Cains, has announced succession changes to its management structure, with current director Tim Shepherd taking on the role of Managing Director.
Tim, who heads up Cains’ Banking and Finance team, has taken over the position from Peter Clucas, who after 32 years of service at Cains is stepping down from his management position to take on a role as a consultant, effective from the 30th June.
Tim first joined Cains as a director in 2006 and has been a key member of Cains’ management team following a management buyout in 2018. His practice area, combined with his knowledge of the firm’s peple and clients, means that he is exceptionally well placed to continue in the role that Peter has undertaken for the past five years, leading the organisation forward and ensuring that it continues to deliver the exceptional levels of service and legal excellence that the business is reputed for.
With 28 years in practice, Tim previously worked in the banking and finance departments of magic circle law firms in London, subsequently spending 3 years as an advocate in Bermuda before relocating to the Island in 2006. He is repeatedly recognised by The Legal 500 and Chambers directories as being a leading banking and finance lawyer and, due to his in-depth industry knowledge, is regularly the “go to” legal advisor for international banks and other financial institutions.
Peter’s change in role comes after 32 years at Cains, the past five as Managing Director. Since joining the firm in 1991, Peter has been recognised as one of the leading litigators on the Island, attaining ‘Hall of Fame’ status in The Legal 500 and ranked as an ‘Eminent Practitioner’ in Chambers and Partners. Under his leadership and guidance, the firm has continued its long-term growth strategy, expanding its corporate and dispute resolution teams and overseeing a period of sustained investment in Cains’ IT, Risk & Compliance departments to ensure that clients continue to receive the highest level of service.
Commenting on his appointment, Tim Shepherd, said: “I’m delighted to take on the role of Managing Director of Cains, one of the most established and trusted law firms on the Island. I’m looking forward to continuing to work with my fellow directors to drive forward our dedicated team of lawyers and business support staff, as we continue to provide our clients with the highest standards of service.
“It’s a genuine pleasure working alongside Peter on a daily basis. His professionalism, integrity and strong strategic steer has been pivotal to the firm’s continued success. On behalf of all the staff, I would like to thank him for his invaluable contribution as Managing Director and we all look forward to continuing working with Peter in his new role with Cains for many years to come.”
Peter Clucas added: “It has been a privilege to have worked at Cains for over three decades, and especially in recent years as we embarked on the latest chapter of our incredible journey. I know that Tim will continue to drive the firm seamlessly forward. I would especially like to acknowledge and thank the many members of Cains’ staff, past and present, who during my many years on the board of directors have worked tirelessly to serve our clients. I look forward to remaining as a member of the Cains team in my new consultancy role.”
Tim’s appointment comes at a key time of continuing growth for Cains, with director and joint head of Cains’ Corporate and Commercial team, Scott Leonard-Morgan, also formally joining Cains’ senior management team as of 30th June.
With 25 years in practice, Scott spent the first half of his career in the City of London and was a partner at a US law firm before spending time in-house as general counsel to several international companies. Scott joined Cains in 2015 and became a director in 2018.