Manches

Turnover fell marginally at the latest year-end at Manches, from £30.6m to £30.2m, in what appeared to be a turbulent year in terms of management.

The firm installed chief executive Judit Petho in October 2010 in a bid to halt falling profitability – a move that appears to have failed. During the year Petho announced that she would be quitting the firm.

The firm was also hit in September 2012 by the exit of star divorce partner Helen Ward, who followed what is now a well-trodden path from Manches to Stewarts Law (Ward is the fifth partner to make the journey in around three years). Ward's departure sent shockwaves through the family sector, with one leading divorce lawyer calling it the biggest move since Fiona Shackleton quit Farrer & Co in 2000 for Payne Hicks Beach.

London managing partner Melvin Pedro and Thames Valley managing partner Richard Smith will expand their roles in an attempt to drive the firm forward and reverse falling figures.

Over the past five years since 2007-08 turnover at Manches has fallen by 12.2 per cent, from £34.4m, while net profit has contracted from £5.4m to £3.7m.