find the latest legal job
Corporate Counsel and Company Secretary
Category: Generalists - In House | Location: Newcastle, Maitland & Hunter NSW
· Highly-respected, innovative and entrepreneurial Not-for-Profit · Competency based Board
View details
Chief Counsel and Company Secretary
Category: Generalists - In House | Location: Newcastle, Maitland & Hunter NSW
· Dynamic, high growth organisation · ASX listed market leader
View details
In-house Projects Lawyer | Renewables / Solar | 2-5 Years PQE
Category: Generalists - In House | Location: All Australia
· Help design the future · NASDAQ Listed
View details
Insurance Lawyer (3-5 PAE)
Category: Insurance and Superannuation Law | Location: Brisbane CBD & Inner Suburbs Brisbane QLD
· Dynamic organisation ·
View details
Legal Counsel
Category: Corporate and Commercial Law | Location: North Sydney NSW 2060
· 18 month fixed term contract · 3-5 years PQE with TMT exposure
View details
Revenue up for HSF

Revenue up for HSF

Herbert Smith Freehills brought in £800 million in revenue for the year ended 30 April 2014, a five per cent increase on last financial year.

The firm also reported net income of £232 million, up 11 per cent on last financial year, and a 12 per cent increase in profit per equity partner (PEP) to £741,000.

HSF is due to introduce a new global partner remuneration system this financial year.

“This is a strong set of results,” said HSF joint-CEO Sonya Leydecker.

Leydecker singled out the firm’s global disputes and transactional practices as two of the main drivers of growth. She also highlighted HSF’s role on high-profile matters, including deals involving Apple, BHP Billiton and Woodside.

HSF has not has not broken down revenue by region, but Australian Mark Rigotti, who shares the joint-CEO role with Leydecker, said the firm had achieved an increase in market share in Australia despite the slowing of the domestic market.

Last year, the firm posted revenue of £471.2 million for its first seven months as a merged firm, from October 2012 to April 2013.

Other UK-headquartered firms with offices in Australia have also released their financial results for 2013-14.

Allen & Overy has posted a revenue figure of £1.23 billion, up two per cent on the previous year. The firm also reported a seven per cent increase in PEP to £1.12 million.

Fellow Magic Circle firm Clifford Chance recorded a slightly higher revenue figure of £1.36 billion and a 16 per cent increase in PEP.

In February, HSF announced that it would lift pay freezes in 2014 after cancelling salary reviews the previous year. The firm’s Australian managing partner Jason Ricketts told Lawyers Weekly at the time that the decision was the result of “some commercial recovery” in Australia.

Like this story? Read more:

QLS condemns actions of disgraced lawyer as ‘stain on the profession’

NSW proposes big justice reforms to target risk of reoffending

The legal budget breakdown 2017

Revenue up for HSF
lawyersweekly logo
Promoted content
Recommended by Spike Native Network
more from lawyers weekly
LCA president Fiona McLeod SC
Aug 17 2017
Where social fault lines meet the justice gap in Aus
After just returning from a tour of the Northern Territory, LCA president Fiona McLeod SC speaks wit...
Marriage equality flag
Aug 17 2017
ALHR backs High Court challenge to marriage equality postal vote
Australian Lawyers for Human Rights (ALHR) has voiced its support for a constitutional challenge to ...
Give advice
Aug 17 2017
A-G issues advice on judiciary’s public presence
Commonwealth Attorney-General George Brandis QC has offered his advice on the public presence of jud...
Allens managing partner Richard Spurio, image courtesy Allens' website
Jun 21 2017
Promo season at Allens
A group of lawyers at Allens have received promotions across its PNG and Australian offices. ...
May 11 2017
Partner exits for in-house role
A Victorian lawyer has left the partnership of a national firm to start a new gig with state governm...
Esteban Gomez
May 11 2017
National firm recruits ‘major asset’
A national law firm has announced it has appointed a new corporate partner who brings over 15 years'...
Nicole Rich
May 16 2017
Access to justice for young transgender Australians
Reform is looming for the process that young transgender Australians and their families must current...
Geoff Roberson
May 11 2017
The lighter side of the law: when law and comedy collide
On the face of it, there doesn’t seem to be much that is amusing about the law, writes Geoff Rober...
May 10 2017
Advocate’s immunity – without fear or without favour but not both
On 29 March 2017, the High Court handed down its decision in David Kendirjian v Eugene Lepore & ...