UK top 200 ranking: 46
Bristol-headquartered Burges Salmon’s revenue grew by 7 per cent, from £66.1m in 2010–11 to £71m in 2011–12, while average profit per equity partner rose by 6 per cent, from £395,000 to £418,000.
Average earnings per partner – the mean figure earned by all classes of partner – went up dramatically from £363,000 in 2010–11 to £418,000 in 2011–12, representing a 15 per cent increase.
Burges Salmon’s international strategy is based around a network of non-exclusive best friends, with its main US relationships including Thompson Hine and Winston & Strawn. Unlike local rival Osborne Clarke, Burges Salmon has no firm plans to expand outside the UK, although it moved into larger offices for its London base in late 2012.
The firm has started paying out to partners following a scheme started in 2003-04 under which members left capital in the firm to fund the move to its new Bristol headquarters in 2010.
The firm’s private client practice has been an important mainstay in the market downturn of the past few years. The practice itself has produced a fair amount of revenue – 10 per cent of total income, or £7.1m – while also generating work for the corporate practice.
Corporate turnover dipped as a proportion of overall fee income, from 37 per cent to 36 per cent, but the raw figure was up by 4 per cent, from £24.5m to £25.6m. Litigation fared well, rising in turnover from £19.83m to £22.72m, making it 30 per cent of overall income.
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OverviewOne Glass Wharf
Turnover (£m): 71
Total lawyers: 263