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This year, The Lawyer’s annual ranking of the largest UK law firms by turnover is available as an interactive, digital benchmarking tool. For the first time this will allow you to manipulate each data set against the metrics of your choice.
Birmingham’s 5 Fountain Court is likely to find itself propelled into the upper echelons of the UK’s biggest-billing chambers this year after reporting a 21.3 per cent lift in turnover.
5 Fountain Court, the UK’s largest barristers’ chambers, notched up £21m for the last financial year, compared with £17.3m in the previous 12 months.
The results launch the set past its nearest rival, St Philips Chambers, which posted £18.3m gross, an increase of 7.6 per cent, for the last financial period. Both sets are similar sizes: St Philips has 142 tenants and 5 Fountain Court 150 barristers.
The upturn in turnover at 5 Fountain Court can be attributed partly to a groundswell of recruitment at the set over the past couple of years, which saw the mass hire of 24 new tenants over 2002-03, including silks Richard Jones QC and Tony Smith QC. In March this year, the set also swooped for five personal injury barristers from St Philips.
A new London annexe in 2003, coupled with the launch of an association with Madrid and Malaga firm De Cotta Mckenna & Santafe, has also contributed to the steep rise in income.