DWF has continued its highly acquisitive streak with the announcement today (11 October) that it has taken on an 11-partner, 50-strong team from LB100 insurance specialist firm Greenwoods.
A statement from Greenwoods said today: ‘Following its merger with Plexus Law in May 2013, Greenwoods has agreed the TUPE transfer of 11 partners and their teams. The transfer to DWF will take place on Monday 28 October.’
A spokesperson for 104-lawyer Greenwoods confirmed to Legal Business that the team, which does a considerable amount of work for Aviva, had been tuped across to DWF after the insurance giant raised concerns that the merger with Plexus would mean it would be acting for other insurers.
The team, which also includes 23 legal specialists and 14 support staff, will strengthen DWF’s catastrophic and large loss personal injury and non-injury expertise. It will be spread across the firm’s offices in Bristol, London and Manchester with a new serviced office set up in Milton Keynes to cater for the 17 staff – including three partners – based in the region.
Andrew Leaitherland (pictured), managing partner & CEO of DWF said: ‘The team has an exceptional reputation for its advisory work on complex cases and this strength in catastrophic and large loss personal injury and non-injury cases enhances our service offering to all insurer clients.
‘This opportunity supports our future growth in London and Bristol, is in line with our business strategy and will further establish DWF’s position as one of the UK’s leading insurance law firms.’
DWF completed five mergers in under 18 months and reported significant revenue and profit increases for the 2012/13 financial year. Turnover at the law firm was up 84% to £188m, while the firm’s net profit has grown 41%, with profit per equity partner standing at £429,000, against £408,000 the previous year.
Prior to its merger with Plexus, 24-partner, 104-lawyer Greenwoods posted revenues of £24.8m for 2012/13.
francesca.fanshawe@legalease.co.uk