Keoghs chose not to disclose its figures for another year. But The Lawyer estimated that the Bolton-headquartered firm generated a revenue of £41m in 2010-11. This is a 5 per cent boost on the firm’s reported 2009-10 turnover of £39m. This evaluation is based by reference to its previous LLP accounts and also falls in line with growth levels reported by other firms that have a heavy dependence on the insurance sector. Net profit was also estimated to have increased from £5m to £6.7m, while average profit per equity partner was up by 40 per cent, from £300,000 to £420,000.
The specialist insurance firm, which also has an office in Coventry, bolstered its partnership in 2010-11 with the hire of two new partners from Weightmans. It also made two new senior hires from Halliwells and Royal Mail Group. The year saw Keoghs promote four associates to partner.
The firm has a single management board mandated by the shareholders (equity partners) to implement the agreed strategies for the business and run the day-to-day business. The seven-person board is made up of CEO John Whittle, the finance director, the chief information officer, the sales director, the director of strategy and two non-executives from outside the legal sector.