Charles Russell has announced a 9.4 per cent increase on last year’s turnover of£58.2m, bringing this year’s figure to £63.2m.
New managing partner James Holder attributed the firm’s turnover increase to the firm’s success in a variety of practice areas, while highlighting private capital property as a particularly profitable area.
“Our private client practice are obviously something we are very strong on and this property practice has done very well this year,” he commented.
In March The Lawyer revealed that the firm was openig a satellite Mayfair office as part of a strategy to boost the private client department. The office is to be headed by property acquisition consultant Richard Crosthwaite, formerly head of Knight Frank’s West End business. He is advising Charles Russell’s private clients on property portfolio issues and works with the firm’s head of private property Ian Cooke.
Last year, The Lawyer reported Charles Russell’s exceptional growth with a 16 per cent increase in turnover and a 22 per cent increase in profit per equity partner (PEP to £330,000).
The firm is yet to announce the most recent PEP figures.