Sixteen per cent fees surge sees Gide Loyrette pass €250m mark
Leading French independent firm Gide Loyrette Nouel has posted record results for 2007, hitting the e250m (£197.79m) mark for the first time.
The firm saw income rise by 16 per cent in 2007 - up from e216m (£170.89m) in 2006.
Gide is also beginning to make an impact in international markets and now has 20 offices outside France. Its London office alone contributed around 9 per cent, or e22m (£17.41m), to the total haul.
International corporate and finance deals formed a strong base for Gide's success last year. The firm advised Veolia Water on its e2.65bn (£2.1bn) acquisition of a 49 per cent stake in China's Tianjin Shibei Water, while the Casablanca office pitched in with a mandate for Orascom Hotels & Development Group on a e530m (£419.32m) tourist and real estate programme in Morocco. Gide is continuing to grow internationally. In London the firm tripled its office space to 33,000sq ft in February to keep pace with the increasing headcount in the UK capital.
Reaching the e250m (£197.79m) mark will put Gide among the largest Continental firms such as Spain's Garrigues and Cuatrecasas, which posted revenues of e256m (£202.54m) and e224m (£177.22m) respectively. Gide now has 106 partners and more than 723 lawyers in total.
