Mishcon de Reya saw revenues rise by 14% to £83.5m in 2012-13, the firm has confirmed, alongside the promotion of one associate, down from the total of four made up last year.

Turnover has risen by approximately £10m from last year's figure of £73.1m in 2011-12, and means the firm has seen overall growth of almost 200% since 2006-07, when revenues stood at £29m. While all practice areas grew last year, managing partner Kevin Gold (pictured) said that litigation had been "a real driver."

The firm's profits per equity partner for 2012-13 have not yet been finalised, but the firm is expecting an increase of more than 14% on last year's figure of £700,000, taking it towards the £800,000 mark.

The news comes as Mishcons has this year promoted one lawyer to its partnership – Hugo Plowman, who specialises in civil fraud investigations and litigation. Last year the firm made up four partners, including two in real estate and one each in employment and litigation.

Mishcons' three-year strategy for 2013-16, in which it plans to grow revenues to £100m by 2016, will be set out to the firm over the next couple of weeks and will include details of the firm's plans for a private client business for high-net-worth individuals.

The business is expected to offer individuals and families with assets of more than £50m access to their own team of non-legal advisers, offering services such as private bank relationship management advice, tax advice and concierge services.

Corporate partner Richard Tyler is leading the strategic committee investigating the project, with Mishcons planning to hire staff from private banks and trusts to run the business.

Gold added: "We don't necessarily want to grow at the same rate but want to create an environment in which people can fulfil themselves – we are not interested in creating glass ceilings."