It was a fairly stable year at Cambridge-headquartered Hewitsons, with turnover decreasing slightly, from £13.7m in 2009-10 to £13.2m last year. However, this remained short of the £15.8m reported in 2008-09 and the £18.6m in 2007-08.
Private client work continued to rake in the majority of revenue at £4.6m (35 per cent). Corporate was a bit thinner during the period, contributing £2.6m (20 per cent) compared with £3.8m (28 per cent) in 2009-10.
In a bid to bulk up its capabilities and client list, Hewitsons made a couple of lateral hires. Carolyn Bagley joined as a private client partner from Shoosmiths and Martin Smith was appointed as a partner in the firm’s commercial property group from Finers Stephens Innocent.
Hewitsons managing partner John Dix said the firm plans to develop its existing work in the rural and agriculture sector, which has not been affected so significantly by the recession.
Hewitsons operates a short and relatively flat modified lockstep with five levels, with partners able to reach the top within five years.