2010-11 case studies: BLP
Berwin Leighton Paisner (BLP) saw the largest percentage increase in profits per equity partner (PEP) across the UK top 50 this year, with the firm attributing its 57.5% hike to continued investment throughout the recession. The firm posted PEP of £712,000 for 2010-11, up from £452,000 last year, against a 20% rise in turnover to £229m.
July 20, 2011 at 07:03 PM
2 minute read
Berwin Leighton Paisner (BLP) saw the largest percentage increase in profits per equity partner (PEP) across the UK top 50 this year, with the firm attributing its 57.5% hike to continued investment throughout the recession. The firm posted PEP of £712,000 for 2010-11, up from £452,000 last year, against a 20% rise in turnover to £229m.
Despite the effects of the downturn, the firm launched new international offices in Russia and Abu Dhabi during 2009, as well as making 13 partner hires during 2010-11, including Royal Bank of Scotland financial structuring head Matthew Kellett and Linklaters City real estate partner James Knox.
Managing partner Neville Eisenberg (pictured) said: "Our surge in profits can simply be attributed to our surge in revenue. We have not done any cost-cutting exercises, but actually increased our cost base over the past year in line with the normal pace of investment in our infrastructure. We are seeing the fruits of our decision to continue investing during the recession."
The firm plans to continue its investment in 2011-12, and is currently gearing up for a launch in Hong Kong. BLP won a number of large mandates during 2010-11, including a second sizeable deal for its managed legal services division, with IT company Colt transferring its employment law team to the firm in September.
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