Clyde & Co has posted an impressive 13% increase in turnover, topping last year’s 9% revenue boost amid a year of slow growth for many LB100 firms.
Turnover was up to £447.3m on last year’s £395m while profit per equity partner (PEP) climbed to £665,000 from £600,000.
The firm has expanded across the past 12 months boosting its headcount to 3300 globally across 45 offices. Alongside its merger with six office Scottish firm Simpson & Marwick in September of last year, the firm has also acquired a 30 lawyer team from Sydney based Lee & Lyons.
The firm continues to expand as Clyde & Co gears up to open the doors to its new Miami office in July with the acquisition of five partner strong, 40 lawyer litigation firm Thornton Davis Fein. The team will be joined by Clyde & Co partner Ricardo Lewandowski who will relocate to the new office from London to launch a Latin American liaison service in Miami.
Clyde & Co senior partner James Burns (pictured), who was named Management Partner of the Year at the 2016 Legal Business Awards said: ‘Law firms face a more complex array of pressures than ever before. To achieve double digit growth in this market while improving profitability is a very good result. It stems from our clear strategy, a constant focus on meeting the needs of our clients and an unwavering commitment to execution.’
Pinsent Masons, Nabarro and Watson Farley & Williams have all posted more subdued figures for this financial year. With revenue up 5% from £362.4m to £382.3m Pinsent Masons has also posted a modest 2% increase in PEP from £538,000 to £550,000.
Nabarro has increased turnover by 3.5% to £130.4m, while preliminary figures show profit per equity partner (PEP) will be up by 1.7% to £586,000. Watson Farley & Williams has also grown revenues by 5% to £131.2m.
madeleine.farman@legalease.co.uk