Fieldfisher announces record-breaking turnover of £165m
European law firm Fieldfisher today announces an outstanding turnover increase of 34% - a total of £165m - for 2016/2017.
The firm saw PEP increase by 16 per cent from £550,000 to £640,000.
Other key financial highlights include:
• Strong growth in Disputes and the Corporate team - each now £20m practice groups
• UK Turnover rises to £110m – the first time it has exceeded £100m
• Growth across all offices and sectors
• 50% plus growth increase in four years
Managing Partner Michael Chissick says, "It's been a great privilege to be the Managing Partner of Fieldfisher over the past 4 years. We have achieved outstanding financial results each year and this has been a truly remarkable year for the firm.
"We have seen growth across all our offices, sectors and practices. On their own, the figures are staggering, and even more so considering the sometimes difficult market conditions.
"Beyond the financial results, we have had a busy year as a firm. We've completed four mergers– and those in the Verein and the LLP have all seen growth and are incredible assets. As a result we have also doubled the number of offices to sixteen.
"We've launched Condor Alternative Legal Services, which has already seen several big banks using the product offering and we are looking to expand the range of services it provides in the next few months.
"We made up nine partners - our most since 2010 – many of whom trained at the firm. We've also had a record number of lateral partners join us, with 21 direct hires and Birmingham saw us bring in an additional 16 partners.
"We are almost half way into 'Our Future Refocused' strategy. Going forward, we plan over the coming months to fulfil our ambition to find an appropriate merger partner in Spain with offices in Barcelona and Madrid.
"We will also continue to develop on our three key sectors; Energy and Natural Resources, Finance and Financial Services and Technology.
"We are in a unique space in the market now, due to our substantial growth and with some of our competitors merging. It’s a strong position to be in and I anticipate another year of steady growth next year too.