Cohesion critical in proving three into one does go

Cohesion critical in proving three into one does go

By the time you read this Dentons (as anyone sane will call it), a three-way merger between SNR Denton, Salans and Fraser Milner Casgrain, should be formally approved (see opposite). That is unless there’s a late spanner in the works, and with merger negotiations you can never be sure.

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SNR Denton – Strained Relations

SNR Denton – Strained Relations

It is no secret that legacy firm Denton Wilde Sapte (DWS) has had a rough ride. During the 2010/11 financial year, the firm’s UK LLP (including the Middle East and Europe) posted an 8% decrease in revenue to £154.4m, while profits per equity partner (PEP) fell to an unimpressive £233,000. This represented a 34% drop (the second in a five-year period) on the previous year and saw the bottom of the equity take home just £156,000.

The EMEA side to the business sits at number 89 in LB’s profitability table, having performed better than just six firms in the entire top 100. But with profit per lawyer (PPL) at an all time low of £29,000 and a margin of just 13%, this firm has almost been run into the ground.

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