LAW FIRM OF THE YEAR 2018

Pinsent MasonsWINNER

Pinsent Masons says its vision, first articulated four years ago, is simple: to be recognised as an international market leader in the five global sectors in which it operates, differentiated by legal excellence and “the bold pursuit of innovation”. And sometimes simple is best. Pinsents’ numbers tell a vivid story of success, with the headline being the 31 per cent rise in revenue since 2014 and a 54 per cent uplift in profit. The firm is debt free, too, something that always carries a lot of weight with present – and future – talent. Pinsents’ five strategic sectors (financial services; energy; infrastructure; real estate and advanced manufacturing and technology) now generate 90 per cent of the firm’s revenue, underlining its sharp focus. What’s more, with so much technology-led disruption coursing through the legal market, the extent to which Pinsents has embraced it via a growing number of alternative businesses and client-focused technology solutions is remarkable. Under the leadership duo of senior partner Richard Foley and managing partner John Cleland Pinsents has gone from strength to strength, but never at the expense of sacrificing its longstanding inclusive culture. Notably, 2017 saw the firm surpass its target of reaching 25 per cent female representation across its partnership a full year ahead of schedule. It has now set a new target of 30 per cent by 2020. Pinsents is on a roll.

Highly commended: CMS

Few firms would attempt a three-way merger and even fewer have managed to pull it off quite as successfully as CMS. On 1 May 2017, CMS Cameron McKenna, Nabarro and Olswang combined in a ground-breaking tripartite merger, the largest in the history of the UK legal market. As one client put it, “their merger connects the dots, meaning they are able to deliver a joined-up, global offering which is aligned to our business strategy and geographical focus”. With significant cost savings, double digit increases in profit and a stream of major client wins, the newly merged CMS is one of the UK legal market’s true success stories.

Commended: Fieldfisher

Fieldfisher has undergone a major transformation in recent years led by managing partner since 2012 Michael Chissick. The wide range of initiatives introduced as part of the firm’s enhanced focus on three key sectors (technology, finance and financial services, and energy and natural resources) include a ground-breaking management information system (LexisOne), a lower cost offering for processing work (Condor ALS) and increased investment in a more diverse workforce. The result? A 34 per cent increase in revenue, the largest growth of any law firm recorded in this period, a 16.4 per cent rise in PEP and a top of equity of £2m.