Scottish teams handle big deals
Pinsent investment extends global footprint
International law firm Pinsent Masons saw turnover rise by 11% last year to £423.1 million, or 7% excluding currency fluctuations.
It is understood that income in Scotland, where it handled some of the biggest deals in Europe, was broadly static, rising from £65m to £66m.
Almost 85% of group revenues in 2016/17 were generated from clients operating in the firms’ five global sectors, with the largest contributors being Advanced Manufacturing & Technology (21%) and Financial Services (20%).
The results follow a year of substantial investment at Pinsent Masons which included opening its first office in Africa, appointing a six-strong partner team in Madrid, and plans to open a technology and financial services focused practice in Dublin.
The firm, which acquired the former McGrigors practice in 2012, has more than 500 staff in Glasgow, Edinburgh and Aberdeen.
Ewan Alexander, partner and head of Edinburgh office, said: “The results reflect a successful year in which Scotland’s largest infrastructure deal and Europe’s largest tech deals in the last 12 months were sourced and resourced by our Scottish corporate teams.
“To address increasing demand from investors for specialist fund capability, we recently recruited funds expert David Young and his appointment as a partner in our insurance, regulation and products strengthens our financial services sector capability.”
Managing partner, John Cleland, added: “We remain committed to our vision of being recognised as an international market leader in our global sectors, and this has been borne out by the investments we have made and will continue to make.
“We are expanding our business to support clients not just across a wider range of geographies and legal service lines, but also across alternative forms of delivery model which provide innovative ways to address the challenges they face. That we have been able to combine that growth with improved profitability gives us significant confidence going into what is an unpredictable year.”
Pinsent Masons has also been appointed or reappointed to a number of significant panels which include AIG, Heathrow, Diageo, Capita, Dixons Carphone, Keepmoat, the Australian BMD Group as well as renewing its sole adviser relationship with E.ON.
The firm brought to market a number of products including the firm’s own proprietary Artificial Intelligence technology plus a suite of tools to help clients prepare for Brexit, and made 16 partner promotions.
In so-doing it surpassed its target of achieving 25% female representation among its partnership by 2018 under the firm’s ‘Sky’ programme.