French independent firm Gide Loyrette Nouel is set to treble its London office space in a move to new premises, as it sees revenue rocket in the UK capital.
The firm’s London office revenue jumped 28 per cent in 2007 to hit £16.5m. In the same year the firm hired in three partners and boosted headcount by 50 per cent in London. As a result Gide has taken three floors in 125 Old Broad Street, trebling its space from 11,000 sq. ft. to 33,000 sq. ft.
Gide senior partner Pierre Raoul-Duval said: “Rapid growth and continued success has meant the London office now enjoys the position of second highest grossing office within the firm, second only to our head office in Paris. The move vindicates Gide’s strategic decision to open an office in London.”
The French firm launched its London office in 2003, taking space in CityPoint. Since that time Gide has managed to triple its London revenue and headcount, and now employs 55 fee-earners and 10 partners.
The firm has seen little signs of credit crunch, advising on $20bn (£10.1bn) worth of debt deals in January this year. Around 40 per cent of those deals originated from the London office.
London partner Chris Mead said: “When we opened the London office we were operating from a makeshift serviced office in CityPoint. To have watched this evolve into one of the largest specialist finance practices in the City has been immensely satisfying.”