250th anniversary for law firm
Record revenue in Shepherd & Wedderburn’s historic year
Stephen Gibb: ‘We have our eyes set firmly on the future’
Law firm Shepherd and Wedderburn has reported record revenues and profits on the day it celebrates its 250th anniversary.
The firm’s revenues rose 6% to £53.5 million and profits before partner distributions by 10% to £22m in the year to 30 April.
It attributed its performance to sustained investment in client services, including artificial intelligence and document automation products; growing international activity (Shepherd and Wedderburn is currently advising clients in more than 100 jurisdictions); a record year for the firm’s London office; and strong demand across its sector and practice groups.
All eligible colleagues will receive a 4% firm-wide bonus and to mark the firm’s 250th anniversary, all staff will also receive an additional day’s holiday.
Shepherd and Wedderburn, which has offices in Edinburgh, Glasgow, Aberdeen and London, currently comprises 78 partners, 190 other lawyers and professional advisers, and 189 support staff.
Highlights of the past year include:
- advising long-standing client FanDuel on its proposed merger with Paddy Power Betfair;
- continuing to advise on the world’s largest tidal array project in the Pentland Firth and on what will be the world’s largest offshore wind farm off the Yorkshire coast;
- advising on a landmark Scottish Islamic financing deal on behalf of the owner of Bridge View and Consort House in Aberdeen
Stephen Gibb, chief executive, said: “Despite uncertainty over the outcome of Brexit negotiations and global macroeconomic trends, our UK and overseas clients have continued to be active.”
Commenting on the firm’s 250th anniversary, Mr Gibb added: “As well as celebrating the many milestones we have achieved with our clients, we have our eyes set firmly on the future.
“We have commissioned The University of Strathclyde’s Fraser of Allander Institute to undertake a major research project to help Scottish businesses, organisations and entrepreneurs best position themselves for the years ahead.
“We will use fresh insights drawn from economic data and long-term global growth forecasts to inform a conversation with our clients and key industry contacts, which will help identify how they – and Scotland – can mitigate the challenges and seize the opportunities against the backdrop of a rapidly-evolving global economy.”