Taylor Wessing chief targets second term” />The UK arm of Taylow Wessing is gearing up for a managing partner election, and incumbent Michael Frawley has indicated that he will stand for another year.
In previous years managing partner elections have taken place in July. Frawley’s three-year term ends in October and it had been widely expected that the election process would begin next month.
Earlier this month, however, the management board, excluding Frawley, agreed to move the election this year to September, citing holiday disruption as the reason.
Senior partner Martin Winter said: “We could vote at any time, but July and August are not the best times for everyone to get together to go to election-related presentations.”
No UK Taylor Wessing managing partner has been elected for a second term. Under Frawley’s leadership, however, the firm has increased significantly in both size and profitability – factors that are thought to have influenced his decision to stand for re-election.
Last week the firm posted its finalised global figures for 2006-07, revealing a 13 per cent increase in revenue to £161.1m and a rise in average profit per equity partner (PEP) of 11 per cent to £435,000.
The firm’s UK arm continued to be its most profitable, with a PEP of £583,000 and the office contributing £90.1m in revenue, a rise of 15 per cent on the previous year.
Frawley said all of the firm’s offices had performed well and that Brussels, which was relaunched in 2005, broke even for the first time.