BLP on course for modest turnover rise at end of expansionist year

Turnover at BLP was £229m in 2010-11, up 20 per cent on 2009-10. Average profit per equity partner (PEP) also soared, rising 56 per cent over the same period to £712,000.

According to managing partner Neville Eisenberg, who was recently re-elected to the managing partner job (23 February 2012), the firm experienced growth in both London and overseas offices in 2011-12, though the rate of growth in the new offices in Europe and Asia was much higher. The firm’s contentious practices enjoyed the strongest year, he said.

BLP had an acquisitive year in 2011-12 launching in Germany (19 September 2011) and Hong Kong (17 June 2011).

Eisenberg said that in 2012-13, the firm would continue to invest in new partners, and that the liquid market for partners at present worked in its favour in that respect, but that integration would be the priority for the firm.

“There aren’t any dramatic headline objectives for 2012,” said Eisenberg. “Clearly, over the past years we’ve made some major investments in new offices and made a lot of new lateral hires. An important theme for us now is integrating those new partners and getting critical mass in the new offices that we have.”

Eisenberg wouldn’t rule out any further expansion in the coming year, but added that any proposition would “really have to knock our socks off”.

Last week Allen & Overy managing partner Wim Dejonghe said that A&O was also looking at a single-digit rise in turnover for 2011-12 year (7 May 2012).