Gómez-Acebo strategy reaps rewards as it breaks e50m barrier

Gómez-Acebo & Pombo has reaped the benefits of its 2007 strategic review, breaking the e50m (£37.16m) turnover barrier for the first time.

The firm posted a turnover of e54.6m (£40.58m) for 2007, a near 15 per cent increase on 2006’s e47.6m (£35.38m). The performance shows a gradual return to form for one of Spain’s largest independent firms, which in 2005 grew by only 6 per cent.

Gómez-Acebo managing partner Manuel Martín said: “In 2007 we implemented a number of actions defined in our strategic plan and we plan to implement further actions during 2008.”

The firm brought in management consultancy Accenture in 2006 to review its slow growth rate. Since then it has launched an office in London, broken off ties with Portuguese ally Vieira de Almeida and hired a number of big names to boost its domestic presence.

Gómez-Acebo snapped up 45 new lawyers in the past four months of 2007, including former Endesa chief financial officer José Luis Palomo, who joined the firm’s advisory council. The firm also made hires in Valencia and Malaga, boosting the administrative and environmental law departments.