Even better for its partners, the firm is expecting a 15 per cent rise in profit per equity partner (PEP) to around £460,000. The firm’s bullishness is reflected in managing partner David Ryan’s words, when he compares his firm favourably to DLA Piper and Eversheds.
Just three years ago, pre-merger, comparisons with DLA Piper and Eversheds would have been laughable. Pinsents’ PEP was just £270,000, while Masons’ languished at £247,000.
Ryan and his colleagues have been spending a lot of time realigning the merged firms’ domestic practices. The rise in PEP signals that the integration is starting to pay off.
But there is still plenty to do outside the UK. Masons had made some strides in this direction through its alliance with US firm Thelen Reid & Priest, but that relationship has quietly been dropped.
At the moment Pinsents has a fledgling alliance in Europe and a network that is nowhere near as integrated as Eversheds’ or DLA Piper’s. A little coherence in its international strategy would be a welcome next step.