French firm Gide Loyrette Nouel’s impressive international growth has continued, with a turnover rise of 25 per cent outside its homeland in 2005.
Managing partner Xavier de Kergommeaux described the rise as “phenomenal”, reporting a rise of 50 per cent for the firm’s North African offices, as well as 42 per cent growth in Asia.
The firm has presences in Algeria, Morocco, Saudi Arabia and Tunisia, as well as China and Vietnam.
Globally, Gide’s turnover rose by more than 9 per cent to e187.5m (£108m). Income in the home jurisdiction of France went up by 4 per cent to e130m (£74.9m) on the back of instructions from the French government on a spate of privatisations.
More than 30 per cent of Gide’s turnover now comes from outside France. The results vindicate the firm’s international strategy, which remains unique for French firms.
Within France the tax team produced the strongest growth, up 22 per cent. The IP and technology department grew by 20 per cent and finance was up by 11 per cent.
Gide has also expanded in terms of partner numbers over the past year, recruiting Cadwalader Wickersham & Taft partner Anthony Davis for its London office. In April 2005 Marianne Rosenberg from Linklaters and Robert MacDonald from Hunton & Williams joined Gide’s New York office.
De Kergommeaux said the hires “have enabled Gide to compete effectively in international capital markets”.
At the end of the year the firm made up eight new partners, including four in Paris and four in international offices.