Pinsent Masons has reported a 7.2% increase in turnover to almost £650m, marking another successful year of revenue growth for the international firm.
Revenue hit £649.6m, up from £605.9m last year, although growth was slower than last year, when the firm posted a 14% hike. Meanwhile, profit per equity partner (PEP) dipped very slightly to £793,000, down by less than 1% from £797,000.
Irwin Mitchell has broken through the £300m mark for the first time, with revenues rising 10% on the back of a series of acquisitions and expansion.
For the year ending 30 April, the firm posted record revenues of £304.3m, up on last year’s £276m. Group profit before tax also rose significantly, reaching £21.7m, up 45% from £15m last year.
In another boost for Paul Hastings’ London office, the US firm has recruited structured finance specialist Brian Maher as a partner from Weil Gotshal & Manges.
Maher, who is a Legal 500 leading individual for securitisation, will be accompanied by counsel Sophie Bainbridge and associate Emily Firmston.
Eversheds Sutherland has posted a modest 3% increase in revenue for its business outside of the US, with profits remaining flat amid what the firm described as ‘challenging economic conditions’.
Revenues for Eversheds Sutherland (International) – which reports separately to the firm’s US arm – rose from £730.9m to £749.4m, with profit per equity partner (PEP) inching up by less than 1% from £1.29m to £1.3m, and net profit flatlining at £175.1m.
Transfer window stays open for summer as Paul Weiss picks up Kirkland City funds partner and Goodwin hires from Dechert.
Dentons posts solid 2023-24 financial results showing UK, Ireland and Middle East regional revenue up 6% after slight dip last year
Turning the page on last year’s disappointing financial performance, when revenue nudged up by just 1% and profit per equity partner (PEP) stayed flat, Travers Smith today (29 July) announced record-breaking results for 2023-24.
Revenue passed £200m for the first time, reaching £215m —a nearly 10% increase from last year’s £197.5m.
Leading the high-profile moves this week, Paul Weiss hired Akin restructuring partner Liz Osborne in London for its much-anticipated European practice launch.
Leaving Akin after almost a decade at the US firm, Osborne will join Paul Weiss as the head of European restructuring.
Latham & Watkins, Freshfields Bruckhaus Deringer and A&O Shearman are among the most-nominated firms at the 27th annual Legal Business Awards, the shortlist for which has been unveiled today (click here for the full list of nominees).
The trio, which have a total of 18 nominations between them, are all up for the prestigious Law Firm of the Year prize. To win, they will have to see off competition from fellow nominees Brodies, Burges Salmon, Freeths, Osborne Clarke, Pinsent Masons and Paul Weiss at the ceremony on 17th September at Grosvenor House.
McDermott Will & Emery has become the latest firm to increase pay for London associates, raising salaries for newly qualified (NQ) associates to $225,000 as competition for talent among firms in the City intensifies.
