| Turnover: |
£172.0m
|
| Profit per equity partner: |
£401,000 |
| Revenue per Lawyer |
£231,000 |
| Total number of lawyers: |
749 |
Pinsent Masons recovered from a rocky 2004-05 to boost its average profit per equity partner figure by a stunning 70 per cent last year, one of the largest increases for any UK firm. But it is only fair to say that the firm’s partners were starting from a low base.
The equity partners of the merged Pinsent Curtis Biddle and Masons are now pulling in an average £401,000 ($730,000) in profit, compared with just £234,000 ($410,000) in 2005. Turnover was also on the rise, up by 15 per cent to £172m ($313m).
International growth features prominently in Pinsents’ strategy. The firm is looking to build internationally to take advantage of its growth at home. It is reportedly strengthening ties with German firm Luther, which left the EY Law network during the year to pursue other international opportunities.
Pinsents is also looking to build in Asia as well as Europe. Last year the firm announced plans to launch a new office in Beijing as part of a renewed push into China.
The firm has applied to the Chinese Ministry of Justice for the necessary licence for the premises, which is set to be staffed by one partner and three associates specialising in construction and engineering, projects and foreign direct investment.
The firm also continues to operate a unique Iraq-based joint venture with US firm Thelen Reid & Priest, called Masons Thelen Reid (MTR). Launched in 2003 after the end of the second Gulf War, and in association with the Baghdad-based firm Salam Abdullah & Partners, MTR is primarily an infrastructure-related operation.
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