Spanish firm Gómez-Acebo & Pombo has posted a two per cent rise in turnover at the same time as promoting nine to its partnership and completing the transition from pure to managed lockstep.
Turnover at the firm was €68.9m (£58.8m) in 2010, 2 per cent higher than 2009’s figure of €67.6m, which in turn was a 10.6 per cent increase on 2008’s €61.1m.
A statement from the firm said: “Given the difficult year and the difficult economic environment, we believe the results are good, even though we’d set higher goals.”
The firm added that it wants to grow by eight per cent in 2011.
Gómez has also completed the overhaul of its partnership system. The firm has replaced its pure lockstep with a managed lockstep, where partners move up the equity ladder based on performance as well as seniority.
“Three years ago, Gómez-Acebo & Pombo started the transition from a pure lockstep system based on the seniority of every partner of the firm to a managed lockstep system based on the seniority, but also taking into account the performance of every partner of the firm,” said managing partner Manuel Martín. “We’ve completed this transition. Our partners’ careers are now driven by the managed lockstep system. Under this system, every year, each lawyer can either gain or lose points depending on his/her performance.”
Gómez has also promoted nine new partners, bringing the total number of partners at the firm to 65. Six of the new partners are based in Madrid, while the other three are spread across Barcelona, Vigo and Brussels.
Earlier this year Iberian firm Cuatrecasas Gonçalves Pereira posted turnover of €241.7m for the 2010 financial year while Garrigues, Europe’s largest independent law firm according to The Lawyer’s Euro 100, earned €352.8m.
In January 2010 Gómez opened an office in Lisbon. The firm now has nine offices, based in Barcelona, Bilbao, Madrid, Málaga, Valencia, Vigo, Brussels, Lisbon and London.
The firm’s new partners, who took up their posts on 1 January, are as follows:
Daniel Marín, corporate – Barcelona
Miguel Troncoso, competition - Brussels
Sergio Antón, corporate – Madrid
Estibaliz Aranburu, corporate – Madrid
Gonzalo Ardila, litigation and arbitration – Madrid
Rubén Ferrer, corporate – Madrid
Santiago Gómez-Acebo, banking and finance – Madrid
María García de la Concha, banking and finance – Vigo