UK & Europe
Global law firm Clyde & Co grew for the 19th year in succession last year according to pre-audit figures released today. Firmwide revenues at the UK-headquartered, multinational law firm surpassed the half billion pound sterling mark for the first time, rising 14% to £508.1 million in the year to 30 April 2017.
Profit at the firm also grew, rising 9% to £127.6 million, as partner numbers increased by 40 bringing the total to 397. Currency movements accounted for 5% of the revenue growth figure.
Global Senior Partner Simon Konsta says,
To have achieved double-digit headline growth again this year is pleasing and is testament to the hard work of our people and the support of our clients. Looking forward, though, we know that the global landscape for business today is more complex than it has been for a long time. When it comes to doing business globally our clients are facing an array of new challenges and risks. It is our job to ensure that we continue to deliver the support and services that they need to help them succeed and that is the task on which we are focused.
Clyde & Co has been one of the fastest growing major law firms in the world for a number of years. Compound average annual revenue growth over the last five years is 12% per annum. In the last year the firm has also added five new offices: three in the United States- Miami (July 2016), Chicago (February 2017) and Washington, DC (February 2017); one in Europe – Dusseldorf (September 2016); and one in Latin America – Mexico City (announced May 2017 and pending regulatory approval).
Global Chief Executive Officer Peter Hasson says,
These results, which come against the backdrop of a challenging macro environment and include growth in all of our major practice groups and regions, point to the continued strength and balance of our business. In addition to growing our top and bottom lines we were also pleased to be able to meet client demand by expanding into new locations and to make a number of investments that will help to prepare the business for future growth.
Clyde & Co has been investing in systems and processes that will prepare it for future growth and greater efficiency in client service. These include the creation of the firm's first global innovation board which will look at enabling change in the business; identifying new forms of value from data; evolving the range of services supplied to clients; and continued investments in practice management and workflow systems to improve efficiency.