Legal Business Blogs

Squires former leader Crossley steps into disputes role as LLPs reveal 13% profit boost for Europe

Squire Patton Boggs former Europe and Middle East managing partner Peter Crossley has returned to his old beat as a litigator, heading up the firm’s international disputes practice in London.

The move for the firm’s former European head (pictured) comes as Squires LLPs accounts reveal the firm’s UK and European operations had seen an increase in turnover of 3%, from £126.2m in the financial year ending 30 April 2015 to £129.5m last year.

The accounts include the firm’s Spanish, Belgian, German and Middle Eastern business. A breakdown showed UK revenue was up to £111.4m from £108m while continental Europe revenues were up to £17.9m from £17.5m.

Profitability also saw a significant boost, up 12.8% from £34.2m in 2014/15 to £38.6m in 2015/16. The top earning member saw pay up from £739,000 to £894,000 last financial year. The figures in the LLP accounts do not necessarily equate to the highest paid equity member and can relate to ‘golden handshakes’ to retiring members.

Key management personnel, which includes the firm’s management committee, designated members and global support directors, were paid £3.4m, down from £3.8m the year before.

The firm also cut its bank overdraft from £22m to £16.6m. While UK and European turnover was up, separate Middle East LLPs revealed turnover fell from £1m to £320,000.

The UK firm is made up of the legacy Hammonds practice under a verein structure following its merger with US practice Squires Sanders in 2011 and Washington DC firm Patton Boggs in 2014.

Crossley stepped down from his role leading the firm’s European arm last year, ending his 12 years in leadership having first been elected as legacy Hammonds managing partner in 2004. Before becoming managing partner, Crossley also served as the Hammonds head of litigation. He will now lead the London disputes offering, which includes 10 partners and 24 other lawyers.

The litigation veteran is succeeded as managing partner by former European corporate chair Jane Haxby. Crossley said: ‘It is a great honour to join our highly successful international dispute resolution practice. This a team of extremely talented lawyers with a global market leading reputation and I am very much looking forward to working together with George in London and playing a part in the continued success of our international practice.’

The international dispute resolution practice is led by global chair George von Mehren, who splits his time between Cleveland and London. The practice will add to its European bench strength with the hire of former ICC deputy secretary general José Ricardo Feris, who joins the firm as a partner in Paris in May.

Read more in: ‘We have enough of a say’: Squire’s Peter Crossley on retirement, leadership and the US’