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Lara Bullock
Global firm Clyde & Co has recorded revenue growth for the 18th year in a row, citing its recent acquisition of a 30-lawyer strong insurance team in Australia as a contributing factor.
Across the firm’s 45 offices, revenue grew 13.2 per cent to £447.3 million (AUD$768.5 million) in the year ending 30 April 2016, according to pre-audit figures. Meanwhile the average profit per equity partner reached a new high of £665,000 (AUD$1.14 million).
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Since 2011 Clyde & Co has added 25 offices globally. The firm launched in Australia in 2012 with offices in Sydney and Perth, and has since opened in Brisbane and Melbourne.
The firm’s Australian presence experienced rapid growth recently with the acquisition of a 30-lawyer team from Lee & Lyons in February 2016 after the insurance firm decided to close its doors.
Since then the firm has made a number of other lateral hires in Australia, including partners Alena Titterton and Michael Tooma, senior associates Darryl Smith and Steven Donley and associate Erica Leaman, all from Norton Rose Fulbright.
Business development consultant José Blanco also joined Clyde & Co this year, as did special counsel Fiona Austin and Rowan Kelly from Herbert Smith Freehills.
“Law firms face a more complex array of pressures than ever before. To achieve double-digit growth in this market while improving profitability is a very good result,” said James Burns, Clyde & Co senior partner.
“It stems from our clear strategy, a constant focus on meeting the needs of our clients and an unwavering commitment to execution.”
