Boies, Schiller & Flexner has filed its first office revenues since launching in the City raking in £7.6m through to the end of October 2015.
Having launched its first London base in 2014, the US firm has managed to generate 3% of global revenues that reached $380m. The litigation powerhouse saw gross revenues grow 10% in 2015 from the previous year, with partner profits exceed the $3m mark for the second year straight.
Since its launch into the City, Boies Schiller been instructed by a series of clients and has a few panel wins under its belt including for M&G Asset Management. The office also won the pitch for the high profile Canary Wharf dispute on behalf of Class A1 Noteholders, which includes financial institutions Legal & General and Prudential. It successfully pitched against the likes of Herbert Smith Freehills, Quinn Emanuel Urquhart & Sullivan, Sidley Austin, Akin Gump and Freshfields Bruckhaus Deringer.
London managing partner Natasha Harrison told Legal Business: ‘Over 70% of London office revenue is generated from local clients, with the balance being generated by US clients. For us this is the perfect balance. We are self-funding and profitable, but also connected to the US, and able to serve our US clients on their important international disputes.’
The office comprises 16 fee-earners, including four partners, three counsel and six associates based in London, and last month, the office launched a City investigations practice with the hire of disputes and investigations lawyer Matthew Getz who joined as a partner from Debevoise & Plimpton. This came after Kenneth Beale and Wendy Miles joined from WilmerHale to bulk up the office’s arbitration practice in 2015 and 2014 respectively.
‘We have been focused on growing our international disputes practice in London, and a core part of our strategy is to develop our offering to clients in the international investigations area, including white collar, regulatory and criminal investigations,’ said Harrison. ‘It is all about identifying leading lawyers in their field who can deliver the highest quality of service to our clients. With Matthew on board, we can meet rising client demand for this work, especially in the financial services sector.’
Harrison joined the firm from Bingham McCutchen at the end of 2013 to head the firm’s foray into the London market in 2014. The launch was the firm’s first office outside of the US mainly to service the firm’s major clients including Barclays, which Boies Schiller had been representing over Libor related issues.
jaishree.kalia@legalease.co.uk