Hewitsons

Hewitsons’ reaction to another year of slight turnover decline was to open merger talks with Veale Wasbrough Vizards. However negotiations stalled in January 2013 with the parties unable to come to a deal.

Cambridge-headquartered Hewitsons saw a three per cent reduction in turnover during 2011–12, down from £13.2m to £12.8m — a long way from its 2007–08 high point of £18.6m.

Hewitsons’ income was again supported by private client, charity and agriculture work, which represented 35 per cent (£4.47m) of total turnover. Property generated 26 per cent (£3.3m), the combined corporate and finance practice put in 22 per cent (£2.81m) and litigation 17 per cent (£2.17m).

The number of fee-earners dropped from 110 to 99 during 2011–12, although total partner and equity partner numbers held firm on 74 and 41 respectively. Revenue per lawyer slipped 5 per cent, from £181,000 to £172,000.

Hewitsons’ short, flat modified lockstep provides partners with a quick route to the top within five years.

Internally, Martin Smith became the new head of commercial property in December 2011, replacing long-serving partner Elizabeth Jones, who retired.