Still, its raft of acquisitions cost the firm £17m in 2012/13, money that was used to buy Biggart Baillie, Buller Jeffries, Claimbase and Fishburns as well as taking on the collapsed Cobbetts in a pre-pack administration deal.
While any takeover is likely to add new clients (Metro Bank is just one cited by DWF) it is also likely to present challenges for a management team striving to push up profitability.
Miles, who will sit at the top of the DWF hierarchy alongside chief executive Andrew Leaitherland and COO Natalie Griffin, knows a thing or two about working with the big beasts – his clients include Royal Bank of Scotland, Barclays and HSBC.
As Leaitherland put it back in March: “Momentum builds momentum.”
Also on The Lawyer:
- The Supreme Court is to examine the scope of a solicitor’s duty and whether they are legally required to warn clients about commercial risks
- Herbert Smith Freehills has shaken up its corporate leadership, appointing Melbourne-based Mike Ferraro as sole global corporate head
- Irwin Mitchell is due to open its ninth UK office in Cambridge less than a month after the firm secured a £60m funding facility from a trio of banks last month