Turnover and profits soar for Barlow Lyde & Gilbert

Barlow Lyde & Gilbert has raised turnover in London by 12 per cent, taking the office over the £60m mark

Profits are also up by a similar margin, taking average profits per partner to approximately £250,000.
Senior partner Richard Dedman said: “This year’s growth has really come across the board, with strong performance in our core areas – insurance, reinsurance and professional indemnity.” In London, all practice areas exceeded their targets.
Dedman added: “That’s where you would expect us, as a counter-cyclical firm, to do well. Where you might not expect such growth is in pure corporate and commercial work, where we have done really well.”
Big deals for the corporate practice included advising Winterthur Insurance on its acquisition of Prudential’s UK general insurance division.
According to Dedman, in 2001 Barlows got its resources right, particularly in terms of fee-earner numbers. The firm has 30 more lawyers than it did last year, which Dedman argues has pushed up turnover and profitability. Big name hires, including Pollyanna Deane and Mike Munro from Herbert Smith and Freshfields Bruckhaus Deringer respectively, show that Barlows has pulling power.
The story in Hong Kong was less encouraging, but Barlows did not reveal figures for the office. Dedman said: “Hong Kong is in the worst recession that I think they have ever had.”
He was optimistic about the coming year, saying that lawyers in the office were bullish about the future. “We’re looking to invest in Hong Kong and Shanghai sufficiently to give us a springboard for next year,” added Dedman.