As Clyde & Co’s Manchester office revenues look to hit £26m for 2014/15, the firm is expanding the presence it gained in the city through its 2011 tie-up with Barlow Lyde & Gilbert with a move into new premises and the hire of two partners from Squire Patton Boggs.
The firm has shifted 18% of its Manchester headcount to the new premises at The Royal Exchange including four equity partners, 39 fee-earning staff and 24 support staff and will also house planned lateral hires over the next few months. As part of the firm’s growth plans for the office, real estate partner duo Liam Buckley, who covers commercial property finance, and renewable energy specialist Stelios Coutsavlis joined this week (8 June) from Squire Patton Boggs.
The transfer comes as the office expanded its headcount by 22% and is set to post a £26m revenue figure across the 2014/15 financial year, up 13% from last year’s £23m. Clyde & Co took on the £18m revenue generating Manchester office in 2011 as part of its merger with Barlow Lyde & Gilbert, and now contributes around 10% of Clyde & Co’s UK turnover. Overall revenue has increased 44% in the last five years.
The firm said the move of the 67 Clydes employees to the central location was a bid to ‘reflect the firm’s commitment to its UK regional operations and its continued plans for expansion’.
James Dadge, partner and head of Clydes’ Manchester office told Legal Business: ‘Clydes has a big international focus but needed more of a client regional focus. It’s Manchester office has grown significantly in the last two years – we now have a marine and pensions offering in addition to a professional indemnity team.’
Some of the office’s key corporate and insurer clients include AIG Insurance, AXA, NFU Mutual – for who the firm recently secured a panel position in March 2015 – and Aviva.