Leading U.K. music industry attorney David Glick has exited as senior partner at London-based law firm Mishcon de Reya to set up a "one-stop" legal and financial services company for the entertainment
LONDON-Leading U.K. music industry attorney David Glick has exited as senior partner at London-based law firm Mishcon de Reya to set up a "one-stop" legal and financial services company for the entertainment, media, sports and fashion industries.
The new firm, called the Edge Group, will open for business at the end of March in the Central London district of Marylebone. It will initially have eight staffers.
Edge Group will have three main components: legal services business Edge Legal; management consultancy/corporate finance house Edge Media; and Edge Media Services, which will provide strategic career and professional advice, particularly tailored to entertainment and fashion industry executives.
"I wanted to provide a 'one stop shop' because I felt I could provide not just good advice, but actually help people with their aspirations and achieve their aims," says Glick.
"The management consultancy and corporate finance arm is important as it will allow us to provide a seamless service in accessing funding for clients, enabling them to make the right deals, not just the obvious deals," he adds.
Glick says the Edge Media finance arm plans to offer access to investment funding for deals in the $5-$75 million range through joint ventures with private equity and venture capital partners. "One of the skills we bring," says Glick, "is the ability to help entrepreneurs who built a business to understand how to structure their business for eventual exit. And how to exit."
Glick, who qualified as a solicitor in 1989, trained at London law firm Eaton & Burley, where he worked with a number of music industry clients.
Eaton & Burley co-founder Michael Eaton, a long-time business partner of Glick, takes a non-executive director role at Edge Legal. Until recently, Eaton was a consulant to Mishcon de Reya.
In 2000, Eaton and Glick's own law firm Eaton's merged with the established firm of Mishcon de Reya, where Glick subsequently headed the Entertainment & Media division. Key staff from that division have now moved to Edge Legal. They include assistant solicitor Richard Baskind, who becomes a director of the new firm, and fellow assistant solicitor Kirsty Williams, described as "a star of the future" by Glick. "We're not having job titles at Edge," he adds.
Mishcon de Reya's Entertainment & Media division will concentrate on non-music related general entertainment work following Glick's departure.
Although much of Glick's own background lies within the music sector, the new company's client base will not be restricted to that area. "As a result of just being asked to do it, we've done a lot of work in other entertainment areas, including fashion, of late," explains Glick. "The businesses are very similar. With what we're doing, there is a certain amount of cross-discipline, taking interesting ideas and concepts from one area and using them in another."
Glick says he sees such cross-industry traits in the structure of major labels Sony Music and Bertelsmann Music Group, where the respective chairmen/CEOs Andrew Lack and Rolf Schmidt Holtz have extensive backgrounds in the TV industry.
Glick will continue to represent his existing clients within the new group. They include the European operations of Azoff Management and artists Sarah Brightman, Nick Cave, Craig David, Fatboy Slim, Gabrielle and the Kinks. He will maintain ties with Mishcon de Reya for work outside the media and entertainment fields.
Additional reporting by Tom Ferguson