Bird & Bird today (3 August) posted a strong set of financial results showing growth in revenue, profit, and PEP. Turnover went up by 10% to hit £495m. This is in line with last year’s growth, though currency fluctuations mean the increase is less impressive in euros: up 9% to hit €573m, compared to euro …
Charles Russell Speechlys today (2 August) posted financial results that saw revenue tick up by 9% to hit £193.7m, while profit dipped by 8% to £37.1m. PEP also fell very slightly, from £524,000 to £521,000. The firm reported a total of 73 equity partners, down from 77 last year, while total lawyer headcount increased from …
Clyde & Co today (1 August) reported a 22% increase in revenue to £786.6m – a combination of 6% organic growth and the impact of its merger with BLM, which finalised last July. This marks the firm’s 25th consecutive year of growth, with revenue up 115% over the decade. Profit was also up 6% to …
The board of Allen & Overy has chosen Abu Dhabi capital markets partner Khalid Garousha (pictured) as interim global managing partner as the dust has started to settle on the shock resignation of Gareth Price. The move, announced today (27 July), came after senior partner Wim Dejonghe covered the role since the firm on 13 …
Continue reading “A&O names Garousha interim managing partner ahead of Shearman merger vote”
Macfarlanes has today (24 July) posted results that show declines in turnover, profit, and PEP for the past financial year. Turnover dropped 2% to £296.6m, while operating profit fell 6% to £151.4m. The decline in PEP was steepest: a fall of 16% took it to £2.1m. The results mean an end to a 12-year streak …
Legal Business Law Firm of the Year Shoosmiths has today (19 July) reported another year of growth, with a 7% rise in revenue taking the firm’s turnover to £194.1m following last year’s 8% increase. Profitability was also up by 3%, hitting £62.7m, while profit per equity partner (PEP) PEP nudged up by £1,000 to £676,000. …
Clifford Chance (CC) today (19 July) became the second Magic Circle firm to post revenues in excess of £2bn after Allen & Overy achieved that milestone last week. CC’s headline turnover figure of £2.062bn showed an increase of 5% on last year’s £1.969bn, and marks the eighth consecutive year of revenue growth for the firm.
Allen & Overy today (13 July) announced the shock resignation of managing partner Gareth Price amid a set of financial results that saw the Magic Circle firm break £2bn in revenue for the first time. The firm said Price’s resignation was due to ‘personal reasons’ and came as revenue jumped nearly 8% from £1.94bn last …
Continue reading “A&O managing partner Price departs pre-merger as revenue passes £2bn”
Simmons & Simmons has today (13 July) reported revenue growth of 12%, up to £521m from last year’s £465m, double the previous year’s growth rate of 6%. Meanwhile, profit growth was slower – 2% compared to last year’s 8%, for a total of £189m. PEP, meanwhile, was steady at £1m, as partner headcount increased by …
Ashurst has marked its seventh consecutive year of revenue growth, with a 10% increase in turnover for 2022/23 from £798m to £879m. While this represents slower growth than than last year’s 12% jump, this is still above its seven-year average of 8% annual growth. However, PEP was down very slightly: £1.17m, compared to £1.175m last …
