Pannone swoops for Watson Burton banking head

Manchester-based Pannone has raided the Leeds office of Watson Burton, poaching its banking head Andrew Gosnay.

Gosnay, who launched Watson Burton’s Leeds office in 2004, leaves after senior partner Andrew Hoyle was ousted by the firm last year following opposition to his expansion plans.

Earlier this year (26 June) The Lawyer reported on Watson Burton’s dire year end figures with profit per equity partner (PEP) plummeting from £712,000 in 2005-06 to £220,000 last year.

Single site firm Pannone reported a 17 per cent hike in turnover last year from £39m up to £44.5m in 2006/2007 financial year.

PEP rose from £250,000 up to £260,000 in the last financial year.

Pannone managing partner Joy Kingsley has presided over a sustained period of lateral hiring, taking on 10 partners in 2005 and five in 2006.

On Gosnay’s hire Kingsley said: “His experience and expertise will be invaluable as we grow the banking and finance part of our business and build on our success over the last two years.”