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Howard Kennedy chief executive Mark Dembovsky is pushing through what he calls a strategy of “openness and trans-parency”, which has seen the firm release its financial results for the first time.
For the 2010-11 financial year the firm saw turnover rise by 7 per cent to £29.5m from £27.5m the previous year. Net profit also climbed, rising by 8 per cent, from £3.7m to £4m, with the firm’s 16 equity partners taking home an average profit per equity partner of £250,000 compared with £215,000 a year earlier.
As part of the firm’s new strategy, Dembovsky, a non-lawyer who joined the firm from Dawsons earlier this year, has created a transaction finance practice that brings together the property finance practice with the banking finance group.
“There’ll be more of those kind of activities to bring people together to make us more joined-up,” Dembovsky revealed.