Significant investment in new offices, lateral hires and an internal reorganisation all paid off for Cambridge-headquartered Taylor Vinters last year. The firm saw its revenue rise by 6 per cent to £15.8m. After dipping in 2009-10 net profit was back up to £2.7m, representing a margin of 17 per cent, while the firm’s average profit per equity partner stood at £216,000.
All but two of Taylor Vinters’ 13 equity partners were at parity, although four additions to the equity partnership at the start of the current financial year will increase the spread of profit.
Currently the firm operates a straightforward five-year lockstep for equity partners, with 17 salaried partners, although it is introducing a small performance-based element next year.
Taylor Vinters’ expansion out of Cambridge saw it launch in London in 2009-10 and in Singapore via an alliance last year. The firm now has a foreign lawyers’ licence for Singapore and is actively hiring there, with an aim of building a practice based on technology and private client work.