The Lawyer’s new China Elite report contains the most detailed research available on the PRC legal market and contains unparalleled insight into the country's leading law firms. They vary in size, practice focus and geographic coverage, but they all share one common quality – ambition... 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.
Birmingham firm Wragge & Co is poised to make its biggest ever leap in turnover this financial year, with fees set to rise to £70m from £54m.
Managing partner Quentin Poole says that that Wragges set an aggressive budget this year. "We projected budget growth of 35 per cent, and we're on target," he says.
Much of the increase has come from IT and from work for large corporations. This year, the firm acted on the outsourcing of British Airways' IT system, understood to have brought in fees of more than £1m. Its drive for plc work has also contributed to the firm's growth - it now acts for 34 FTSE 100 companies. Client wins have included Marconi, 3i, RHM and TRW.
Poole says: "When you start winning slices of work from FTSE 100 companies, the growth is [built in]. If you get 1 per cent of the [corporation's] work, you can get 10 per cent after one year and 20 per cent after two. It means you can business plan quite easily."