Stephenson Harwood

Stephenson Harwood continued along its track of steady turnover growth, posting a 3 per cent increase in 2011-12 from £107m in 2010–11 to £110.2m.

The average profit per equity partner (PEP) figures make for less happy reading, with the figure down 17 per cent from £610,000 to £505,000.

Overall partner count rose 4 per cent from 103 to 107, with the London partnership swelling 2 per cent from 85 to 87. The number of partners outside London rose from 18 to 20, meaning the proportion of non-UK senior lawyers saw a hike of two percentage points from 17 to 19 per cent.

The figures underline Stephenson Harwood’s reputation as a hiring firm.

In other personnel changes, litigation partner Roland Foord took over as senior partner from corporate specialist Andrew Sutch on 1 May 2012. Sutch had been in the top position since 2002.

Litigation was Stephenson Harwood’s biggest fee generator in 2011–12, bringing in 45 per cent of turnover. Finance was second on 25 per cent, with corporate on 18 per cent and property 6 per cent. The UK is particularly disputes focused: 52 per cent of income in London came from that area.

The firm has made efforts to beef up its financial restructuring practice. This has resulted in an increase in fees in the finance practice from £23m to £27.6m, or 21 per cent to 25 per cent of overall income.