| Turnover: | £154.9m |
| Profit per equity partner: | £712,000 |
| Revenue per Lawyer | £338,000 |
| Total number of lawyers: |
459 |
SJ Berwin continued its return to form in 2005-06, reporting a 24 per cent increase in average profit per equity partner to push the figure beyond the £700,000 ($1.27m) mark for the first time. This increase follows a 13 per cent jump in profit the previous year, when the firm returned to boom levels of profitability not seen since 2001.
Accounting revisions to accommodate FRS5 and work in progress assisted the improved results last year, but negotiation of an early lease exit worth £3m ($5.46) on its former London premises was also a significant contributor.
New senior partner Jonathan Blake attributed the improved results to strong performances across all practice areas. However, the firm’s eight Continental European offices proved most profitable, despite it being London’s best year ever. The Turin and Milan offices were the exception following their launch in December 2005. European overheads are kept low by ensuring that a quarter of staff, compared with a third of the partnership, are based overseas.
The past year was also one of transition for SJ Berwin. Former head of European corporate finance and private equity Blake was confirmed as the firm’s new senior partner, replacing David Harrell after 13 years in the role. At the same time, the silver circle firm looked to implement a swathe of initiatives following the completion of a strategy review in January 2006.
Nine working groups are examining issues spanning from developing the firm’s culture and values to winning the war on talent. For example, one group is developing a formal global secondment programme with international firms.
While SJ Berwin remains focused on its strategy to become the leading independent law firm with a full-service European network, it has also begun to explore expansion possibilities in a range of more-distant jurisdictions, including China and India. As part of this, Blake visited India in September 2006 to discuss formal referral relationships or alliances with local firms.
|
