2010-11 was a year of cultural change for Howard Kennedy, symbolised by a change of management at the top with the appointment of Mark Dembovsky as the firm’s first non-lawyer chief executive.
Following the firm’s conversion to LLP status its tightly held equity group has changed its stance on transparency and for the first time has agreed to disclose turnover.
For the 2010-11 financial year the firm saw turnover rise by 7 per cent, from £27.5m to £29.5m. Net profit also climbed by 8 per cent, from £3.7m to £4m, with the firm’s 16 equity partners taking home an average profit per equity partner of £250,000 compared with £215,000 a year earlier.
Dembovksy’s appointment in January brought to an end the reign of former managing partner Trevor Newey, who retired in March after 39 years at the firm, 19 of them spent as senior partner.
Along with Newey’s exit the firm also saw the departure of family head Ursula Danagher, who left for Memery Crystal in November after two and a half years at the firm.
In March it also parted company with the three-partner projects team that the firm gained in November 2008 when it merged with DMA Legal. The trio, Deborah Mills, David Hill and Andrew Pike, launched Mayfair boutique Burlingtons.