Clyde & Co

2011–12 was a transformative year for Clyde & Co. The firm completed its merger with Barlow Lyde & Gilbert and expanded its associate office network into Zimbabwe, through a tie-up with Scanlen and Holderness, and Mongolia, through an association with Khan Lex Advocates.

Turnover was up 36 per cent to £287m, with growth outside the UK underpinning the performance. That revenue hike includes revenues generated by BLG, which Clydes acquired in November. Without the merger, Clydes’ revenue would have risen by 17 per cent to £248m.

The firm’s London office contributed the largest proportion of turnover, £156.2m, while the domestic regional offices in Guildford, Manchester and Oxford accounted for 3.7 per cent of turnover, £10.8m.

In London, Clydes has focused on building up a transactional practice with its 2010 takeover of construction boutique Shadbolt beginning to have an impact — revenue in the group was up by 30 per cent.

Clearly there has also been rapid growth in the firm’s international base, which last year generated £120m, or 41.8 per cent of turnover. In the Middle East revenue rose by 10 per cent, with the firm’s Riyadh office, launched in 2009, posting a 50 per cent jump, the same as its Doha base.

Long-serving senior partner Michael Payton will step down in 2013 to be replaced by James Burns, a contentious insurance specialist who was elected unopposed.