2010-11 case studies: Gateley
Gateley has shot into the 2010-11 UK top 50 rankings for the first time, buoyed by last year's acquisition of Halliwells' Manchester commercial practice. One of only two new entrants to this year's top 50 alongside Reynolds Porter Chamberlain, the Birmingham/Edinburgh-headquartered firm posted a turnover hike of 23% – the biggest percentage increase of any top 50 firm during 2010-11 – with fee income rising from £51.2m to £63m.
July 20, 2011 at 07:03 PM
2 minute read
Gateley has shot into the 2010-11 UK top 50 rankings for the first time, buoyed by last year's acquisition of Halliwells' Manchester commercial practice.
One of only two new entrants to this year's top 50 alongside Reynolds Porter Chamberlain, the Birmingham/Edinburgh-headquartered firm posted a turnover hike of 23% – the biggest percentage increase of any top 50 firm during 2010-11 – with fee income rising from £51.2m to £63m.
Profits per equity partner fell from £319,000 to £240,000, due to the firm taking on 38 Halliwells partners, with partner headcount swelling from 98 at the end of 2009-10 to 142, a number which also included five lateral hires and two promotions made during the year.
Gateley senior partner Mike Ward (pictured) commented: "The impact of the Halliwells acquisition is not to be underestimated. All of our turnover growth is really down to that – otherwise we found it to be a very challenging year and did not hit all our internal targets."
Ward added that the firm's property practice, which contributed £17.3m in revenue, had continued to find the market tough. Corporate brought in £27m, with litigation and other practices generating £5.4m and £13.3m respectively.
The year also saw the firm, which was formed through the merger of Birmingham's Gateley Wareing and Edinburgh's Henderson Boyd Jackson in 2006, rebrand from its previous identity of HBJ Gateley Wareing to Gateley in England and Dubai and HBJ Gateley in Scotland.
Ward added: "Our past year was hijacked by the Halliwells administration and our involvement in acquiring the Manchester operations, which took up a lot of time and energy. Nine months on, we can take a deep breath and get back to normal.
"Hopefully the year ahead will be boring but busy – that is, unless any other opportunities present themselves."
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