The Lawyer Africa Elite 2014 features an in-depth look at 46 leading independent firms’ strategies in 15 key sub-Saharan jurisdictions, as well as the views of in-house counsel from some of Africa’s largest companies... Read more
This year, The Lawyer’s annual ranking of the largest UK law firms by turnover is available as an interactive, digital benchmarking tool. For the first time this will allow you to manipulate each data set against the metrics of your choice.
TRAVERS Smith’s incoming managing partner Andrew Lilley has pledged to continue the corporate firm’s policy of riding out the recession.
Despite being hit by the drop-off in transactional activity, Travers has not made significant cuts in response to the recession, with just five associates made redundant at the end of last year.
Current managing partner Chris Carroll, who stands down in January 2010, has pursued a strategy of keeping costs low and waiting for market conditions to improve.
Head of employment Lilley said he was not planning to overhaul the City firm, adding: “Given that I was on the management board for five years, it would be odd if I came out with a different plan. My hope is that we can carry on business as usual.”
Lilley won the role after senior partner Alasdair Douglas held informal soundings within the Travers partnership. He inherits one of the most profitable partnerships in the top 50, despite the impact of the credit crunch. In the 2007-08 financial year its average profit per equity partner figure fell by 7.6 per cent to £755,000, while turnover rose slightly to £80m.