Fri, 24 May 2013
Exploit the power of digital with The Lawyer Acumen
The Lawyer Acumen is a comprehensive online resource giving everyone in the legal market real-time business intelligence on the sector.
27 July 2009 | By Luke McLeod-Roberts
2 June 2009
28 February 2011
14 September 2009
16 February 2009
19 October 2012
Pinsent Masons and Salans were considering carrying out a merger, but ruled it out in the short term because of the financial cost, The Lawyer understands.
However, the two firms signed an agreement last month that will see them prepare joint pitches and refer work to each other on a global basis.
A source close to the deal said that in the current economic climate the alliance arrangement was seen as a “low-cost, affordable way” of pursuing the same strategic growth objectives.
Although Pinsents has yet to submit complete financial results for the 2008-09 financial period, data from 2007-08 reveals that the two firms are very closely aligned entities.
Pinsents brought in a revenue of £213m, had an average profit per equity partner (PEP) of £500,000 and 40 per cent of total partners were part of the equity.
Salans, which turned over £143m during 2007-08, had a PEP of £502,000, with 39 per cent of the firm’s partners in the equity.
Subscribe to The Lawyer today and get all the latest news stories, both domestic and global, and analysis of the legal sector.
A subscription includes:
The latest legal news, opinion, analysis, jobs and events. Wherever you are, whenever you need it.
Let us help you with an integrated approach to mobile and online advertising.
Site powered by Webvision