Clyde & Co pursues strategy of diversification

Clyde & Co has grown 90.2 per cent from £192m to £365.1m between the 2009/10 and 2013/14 financial years, and according to senior partner James Burns is targeting revenue of more than £400m for the current financial year.

In today’s leadership interview Burns reflects on his first year in command, making diversification the buzzword of the coming year and beyond.

Despite Clydes’ reputation for hoovering up marginalised insurance teams in foreign firms in order to plant its own flag in new locations, it is Manchester that Burns uses to illustrate his diversification strategy.

Clydes’ Manchester office is quickly becoming one of the largest in the city. It has grown 19 per cent in the last year from £21.8m to £26m, with a 22 per cent boom in headcount.

But Clydes’ Manchester is more of a comeback story than a growth story when placed in the context of its Halliwells heritage.

Clydes reported 5 per cent revenue growth at the half-year, bringing revenue for the first six months of 2014/15 to £178m. Burns says he is confident the firm will replicate the performance in the second half alongside equally strong profit growth.

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