Kennedys is the latest UK firm to announce its 2013/14 turnover, unveiling double digit growth with revenue up by 10% to £128.5m.
The lion’s share of revenue at the top 30 firm came from its UK activity, which generated £98.3m.The firm has attributed it’s growth to its merger over a year ago with aviation practice Gates and Partners, which in May 2013 took total headcount at the firm to 176 partners, while the specialist aviation team, Kennedys Aviation, now comprises 20 partners.
The combination also gave a boost to turnover in the firm’s UK, Singapore and Dubai offices, and facilitated expansion in its insurance and aviation practices. Kennedys in September last year also announced an association with Bogota-based insurance law boutique Botero Salazar Tobón & Abogados.
Senior partner Nick Thomas said: ‘We’ve made some strong lateral hires throughout the past year, which along with our merger with Gates and Partners, has contributed to another positive year.
‘Looking ahead, our growth will continue to be predicated on client need and organic growth. We continue to explore opportunities for international expansion and we remain very focused on driving operational effectiveness throughout our network of offices.’
Kennedy’s made five lateral partner hires during the year, including former CMS Cameron McKenna Hong Kong insurance head Michael Skrbic, who joined the City office in March from Commerzbank.
In May, the firm called on its fixed-share partners to make a 30% capital contribution in light of HM Revenue & Customs’ (HMRC’s) decision to overhaul the way salaried partners are taxed.