Spanish firm Garrigues has made up 15 equity partners as revenue figures for the financial year 2011-12 showed a dip of 5 per cent.
The promotions, which were approved at a partners’ meeting yesterday, follow the decision last year to make up 152 of its partners to full-equity status. The latest promotions bring Garrigues’ total number of equity partners to 273.
The firm’s Barcelona office promoted three lawyers directly to the equity, while Madrid made up four and the Las Palmas de Gran Canaria, San Sebastián and the Valencia offices all made up one partner directly to the equity apiece.
Five non-equity partners were also brought into the equity, two of whom were in Madrid and one each in Granada, Oviedo and Seville.
Eleven lawyers were also named as counsel across the firm’s offices in Alicante, Barcelona, La Coruña, Madrid, Seville, Oviedo and Zaragoza.
The news of the promotions comes as the firm reports a turnover of €337.6m (£272.2m) for the year to 31 August, down 5 per cent on the 2010-11 figure, which stood at €355.2m (£312.3m) (31 October 2011).
Garrigues managing partner Fernando Vives told the partners at the meeting in Madrid: “The market affects us much like any other company. Despite this, this has been a highly satisfactory year, not just in economic terms, as far as billings and profitability, but also as regards the quality of our business. The firm has taken a proactive approach to the crisis and this has enabled it to meet the challenge head on. Today, the firm is more robust and competitive.”
For Vives, client service has become an even more paramount concern for the firm since the onset of the economic crisis. “Client service is, and must continue to be, the overriding concern of the firm. Our organization must work for and on behalf of clients. The revenues obtained and our success this fiscal year are thanks to the trust they have placed in us.”
The firm’s senior partner Ricardo Gómez also took the opportunity at the meeting to reveal the results of a recent survey carried out among partners to identify candidates for the managing partner position when Vives’ tenure runs out next year. The survey revealed that 98 per cent of partners singled out Vives as their candidate of choice for re-election for 2013-17.