Pinsents, LG buck trend by winning Aim clients

Pinsent Masons and LG have boosted their Aim practices despite the turmoil engulfing the financial markets.

Pinsents kept its place as the top law firm for total number of Aim clients and added two more companies to its roster in spite of a sharp decline in flotations. It now represents 61 Aim-listed companies.

LG added one client to its list, which now totals 54, and climbed from fourth to second.

However the data, released by financial information provider Hemscott, shows that most law firms lost AIM clients during the last quarter.

Third place DLA Piper lost three of its 56 companies in the last three months, while Norton Rose in equal third dropped two to 53.

In all, the number of AIM companies represented by the top 10 firms on the list fell from 488 to 475.

The value of those companies has also plummeted in the last three months. The market capitalisation of LG’s 54 clients dropped by more than £1bn, from £5.4bn to £3.9bn, as the economic crisis took its toll on London’s junior market.

In total, Aim clients for the top 10 firms have seen nearly £12bn slashed from their market value during the last three months.