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Channel 4 TV Star Dave, Banks on JMW
A team from full service law firm JMW Solicitors LLP advised David Fishwick in his attempts to start a micro bank for the Burnley community. His efforts are the subject of a forthcoming Channel 4 series due to be screened later this summer.
Led by Head of Corporate, Chris Moss the team from JMW advised the self-made millionaire regarding the intricate banking regulations.
Their advice, which was provided on and off camera, was especially complex given the 180 day timescale of the project, and the breadth of regulations that a new financial business is subject to. Chris has experience of providing advice to the financial sector.
David wanted to set up a bank to help make loans to local businesses who were finding it hard to grow in the tough economic climate. David planned to offer loans and advice, much like an old fashioned bank manager.
David’s TV series and accompanying book (published by Virgin last month) charts his progress as he faces the challenges of setting up his own bank to make a profit within 180 days. Chris Moss is acknowledged in the book and features throughout.
Commenting on working with the Bank of Dave, JMW said:
“It has been wonderful working with Dave Fishwick on his “Bank of Dave” concept. It is inspirational to see someone who is so passionate about trying to change the status quo. Everyone in the team has really enjoyed working on the project, even when at times the red tape was very difficult to overcome.”
Commenting on working with Chris, David Fishwick said:
“I approached a firm of solicitors – JMW – high fliers whose offices are housed in a Manchester skyscraper. I had spoken to them about the bank I wanted to create, and they had immediately got it. They offered to help me with my banking application for next to nothing because of my intention to give the profits to charity at the end of the 180 days. If the Bank of Dave was to become profitable, that was the sort of support I truly needed.”
NB: The quote is taken from ‘Bank of Dave: How I Took On the Banks: The Story of One Man's Heroic Attempt to Take On the Banks’ by David Fishwick from page 99. Published by Virgin on 10 May 2012.
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