East Midlands firm Flint Bishop & Barnett has benefited from a gradual restructuring of its equity that last year helped it register a 47 per cent revenue increase.
As the fastest-growing firm in The Lawyer Rising 50 (published today (4 December)), Flint Bishop has reduced equity partner numbers from 15 five years ago to its current number of six, out of a total of 22 partners.
The firm saw turnover jump from £8.8m in 2004-05 to £13m in 2005-06.
Managing partner Ken Dixon said: “It has helped significantly having a smaller group of equity partners. One of the problems for a lot of larger firms is that they haven’t had a clearout of the partners. Doing that, along with having a team of senior people working full-time on management, has allowed us to be really focused on developing the business.”
The firm opened a new office in Nottingham in March 2005 to cater for growth in fee-earner numbers.