Shoosmiths believes it is still on target to hit £200m in revenue after a steady financial year which saw modest growth and steady profit per equity partner (PEP) results after an 18% surge last year to £434,000. The results today (24 July) showed a 7% increase in turnover to £137.6m, while net profit was up …
Continue reading “‘Last year wasn’t a blip’: Shoosmiths revenue rises 7% as profit growth slows”
Simmons & Simmons has made a rare acquisition in the form of legal engineering start-up Wavelength for an undisclosed sum. Wavelength – which claims to be the first Solicitors’ Regulatory Authority-regulated legal engineering business in the world – uses data science, technology and design to assist on projects in the legal industry. The acquisition will …
Big Four accountancy firm Deloitte has bulked up its UK legal bench by hiring Andrew Lilley, the former managing partner of Travers Smith, to spearhead its employment practice. Lilley will now focus on building the firm’s employment presence in the UK, as Deloitte joins its Big Four counterparts in further expanding its domestic legal capability. …
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Mishcon de Reya is considering options for raising capital in a bid to fund its ‘ambitious plans’ for growth, including a possible initial public offering (IPO). Sky News reported on Saturday (20 July) the firm is looking to either list on the stock exchange or sell a stake to a private equity investor to raise …
Continue reading “Spin-offs likely as Mishcon ‘considering all options’ for a capital raise”
The legal and accounting sectors contributed an eye-catching £19.1bn in tax to the UK economy in 2018, suggests a new report from lobby group TheCityUK. The report published today (18 July) estimates the figure to be a 6.8% increase since 2016, with law and accountancy firms’ business models resulting in a higher tax contribution compared …
Paul Hastings has made a significant private equity play at the expense of Hogan Lovells, hiring a three-partner transatlantic team. Ed Harris – who led Hogan Lovell’s private equity practice in the City – joins alongside Leanne Moezi in London, while Virginia-based partner Adam Brown joins Paul Hastings’ Washington office.
Herbert Smith Freehills (HSF) has hired a six-strong energy and infrastructure team from Paul Hastings, with two partners and four associates joining the Anglo-Australian firm in Milan. Lorenzo Parola will decamp Paul Hastings, where he chaired the firm’s EU energy and infrastructure practice, and is joined by Milan-based partner Francesca Morra. Parola focuses on energy …
Continue reading “Italian job: HSF hires two partners from Paul Hastings in Milan energy drive”
The man who led Gateley in its pioneering move to become the first UK law firm to float on the public markets is to step down as chief executive next year. Michael Ward, who has spent over thirty years at Gateley, will be succeeded by the firm’s Manchester office head and leader of its national property …
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Knights has produced a strong debut financial year following its AIM listing, with acquisitions and organic growth propelling the firm to more than £50m in turnover. Turnover at the company was up 51% to £52.7m, slightly ahead of expectations the company flagged in May, including 15% organic growth. Revenue per fee earner was up 22% …
Revenue growth at Herbert Smith Freehills (HSF) remains sluggish after a strong year for the corporate practice was offset by a relative slowdown in disputes. Revenue grew a steady 4% to £966m, whereas profits grew 11% to £307m. Profit per equity partner (PEP) matched overall profit growth, rising 11% to £949,000.
