Global law firm Clyde & Co grew for the 18th year in succession last year according to pre-audit figures released today. Firmwide revenues at the 45 office law firm grew 13.1 percent to £447.3 million in the year ending 30 April 2016.
Clyde & Co has been one of the fastest growing major law firms in the world in recent years, growing at a compound average growth rate of 16 percent per annum over the past five years. It now has a presence in every global region including Latin America, Africa, Europe, the US, Canada, the Middle East, Asia Pacific and the UK.
Since 2011 the firm has added 25 offices and 2000 staff globally. In the past 12 months that includes the addition of six offices in the UK through a merger with Scottish firm Simpson & Marwick; rapid growth in Australia via the acquisition of a 30 lawyer team from Lee & Lyons; and the addition of a sixth US office via a merger with Miami litigation boutique Thornton Davis Fein (launched 1 July).
Clyde & Co Senior Partner James Burns said, "Law firms face a more complex array of pressures than ever before. To achieve double digit growth in this market while improving profitability is a very good result. It stems from our clear strategy, a constant focus on meeting the needs of our clients and an unwavering commitment to execution."
The figures include revenues from Simpson & Marwick, with which Clyde & Co merged on 1 October 2015. Excluding Simpson & Marwick, revenue growth was nine percent.
Chief Executive Officer Peter Hasson said, "The twin themes of past year were continued strong and profitable revenue growth against a background of continued global expansion and significant investments that will enable us to become a more agile organisation. One of the strengths of Clyde & Co is the balance of our business across both geographies and sectors and that is reflected again in these results."
In addition to its expansion Clyde & Co made a number of significant investments across its global business in 2015/16.
CFO Duncan Crowdy said, "2015/16 was a steady year. In addition to growing revenue we have invested in a number of new systems to support our global growth. Overall these results demonstrate a clear vision and a continued focus on strong operational delivery."
Global law firm Clyde & Co has 3300 people in 45 offices worldwide. It has a focus on five core sectors: insurance, energy, trade & commodities, infrastructure and transport.
On 29 June Clyde & Co was named Law Firm of the Year 2016 by The Lawyer.