FARLEY Hilton Dwek, the ‘interest rate swap’ solicitors, has hired Altrincham-based RMS PR to manage its public relations.

Law firms Farley Dwek and Hilton Law have teamed up in the Spinningfields district of Manchester under the Farley Hilton Dwek brand to help clients recover the correct level of compensation from banks who mis-sold controversial derivative products.

These derivatives, typically called ‘interest rate swaps’ but also known as ‘caps’, ‘collars’ and ‘structured collars’, were supposed to safeguard small businesses against rising interest rates but in many cases ended up costing them thousands of pounds in extra fees and charges.

The Financial Conduct Authority has already given Britain’s biggest banks permission to start paying an estimated £2bn in compensation owed to small firms.

Mark Hilton of Farley Hilton Dwek, said: “We were impressed with the RMS team’s understanding of the legal sector and in particular its knowledge of the interest rate swaps market and how best to get our message out to business owners and finance directors who have been affected by this scandal.”

Peter Davies, director of RMS, which is based on Market Street in Altrincham, said: “Our brief is to position Farley Hilton Dwek as the voice of interest rate swaps and fighting for business owners to make sure they get a fair deal from the bank.

“We will be developing a social media strategy as well as managing sponsorship and advertising campaigns for the team. We’ll also be reaching out to other professionals such as accountants and insolvency practitioners through direct marketing activity who may be a in a good position to recommend Farley Hilton Dwek.”

Andrew Farley and Jonathan Dwek founded Farley Dwek Solicitors in 2007 and have specialised in processing claims including personal injury, medical negligence and care costs cases. The firm currently employs 15 staff.

Mark Hilton founded Hilton Law in 2009 and, with his partner Nick Scott and team of five support staff advises businesses on litigation and commercial law issues.