Shoosmiths' PEP leaps 44% as revenue also increases
Firm announces a 10% increase in revenue and a 30% increase in PEP as Gateley promotes two to partner
July 13, 2015 at 07:07 AM
3 minute read
Shoosmiths has reported a 44% jump in profit per equity partner, as its revenue also rose 10%.
In its headline results the firm reported revenue of £102.7m in 2014-15, a 10% increase from £93m in 2013-14.
The firm reported its profit per equity partner (PEP) was up 44% to £416,000, from £290,000.
This marks a return to form for the firm which has seen its PEP figure fall dramatically in recent years.
In 2010-11 the firm's PEP stood at £371,000, it fell to £294,000 in 2011-12 and then to £269,000 in 2012-13 before rebounding to £290,000 last year.
Shoosmiths chief executive Claire Rowe ascribed the firm's "stellar results" to its investment strategy – which has seen the firm appoint 46 new partners over the last three years – the appointment of its first non-executive director Jeremy Horner and its investment in IT and infrastructure.
She added: "We have focused on building strong relationships with our clients and gaining a reputation for delivering quality legal advice which enables us to grow organically, particularly through recommendation."
The rising PEP level is another success for the firm that has so far had a good year in 2015.
Earlier this year the firm was appointed to Mercedes Benz panel having previously been dropped in 2005.
The firm announced this year that it will take permanent office space in Tower 42 in the City of London, starting on 13 July.
Meanwhile, Gateley has made 42 promotions, including two to partner.
James Madill in the firm's Birmingham office has become a partner in the firm's real estate team, while Ryan Ferguson has been promoted to partner in the firm's real estate team in London.
Ferguson recently moved from the firm's Birmingham office to its London office to lead its residential development team in the City.
Alongside the two new partners six were promoted to legal director, 21 to senior associate and 12 to associate.
Gateley's chief executive Michael Ward said: "One of the reasons behind our move to become a public company was to be able to provide a flexible and rewarding career structure for all our people."
Gateley became the first UK law firm to become a public company this year when its shares were listed on the London Stock Exchanges' AIM market on 8 June this year.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
NOT FOR REPRINT
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
You Might Like
View All
Hengeler Advises On €7B Baltica 2 Wind Farm Deal Between Ørsted and PGE
2 minute read
Israeli Firm Pearl Cohen Combines with San Francisco IP Boutique
Trending Stories
- 1How Some Elite Law Firms Are Growing Equity Partner Ranks Faster Than Others
- 2Fried Frank Partner Leaves for Paul Hastings to Start Tech Transactions Practice
- 3Stradley Ronon Welcomes Insurance Team From Mintz
- 4Weil Adds Acting Director of SEC Enforcement, Continuing Government Hiring Streak
- 5Monday Newspaper
Who Got The Work
J. Brugh Lower of Gibbons has entered an appearance for industrial equipment supplier Devco Corporation in a pending trademark infringement lawsuit. The suit, accusing the defendant of selling knock-off Graco products, was filed Dec. 18 in New Jersey District Court by Rivkin Radler on behalf of Graco Inc. and Graco Minnesota. The case, assigned to U.S. District Judge Zahid N. Quraishi, is 3:24-cv-11294, Graco Inc. et al v. Devco Corporation.
Who Got The Work
Rebecca Maller-Stein and Kent A. Yalowitz of Arnold & Porter Kaye Scholer have entered their appearances for Hanaco Venture Capital and its executives, Lior Prosor and David Frankel, in a pending securities lawsuit. The action, filed on Dec. 24 in New York Southern District Court by Zell, Aron & Co. on behalf of Goldeneye Advisors, accuses the defendants of negligently and fraudulently managing the plaintiff's $1 million investment. The case, assigned to U.S. District Judge Vernon S. Broderick, is 1:24-cv-09918, Goldeneye Advisors, LLC v. Hanaco Venture Capital, Ltd. et al.
Who Got The Work
Attorneys from A&O Shearman has stepped in as defense counsel for Toronto-Dominion Bank and other defendants in a pending securities class action. The suit, filed Dec. 11 in New York Southern District Court by Bleichmar Fonti & Auld, accuses the defendants of concealing the bank's 'pervasive' deficiencies in regards to its compliance with the Bank Secrecy Act and the quality of its anti-money laundering controls. The case, assigned to U.S. District Judge Arun Subramanian, is 1:24-cv-09445, Gonzalez v. The Toronto-Dominion Bank et al.
Who Got The Work
Crown Castle International, a Pennsylvania company providing shared communications infrastructure, has turned to Luke D. Wolf of Gordon Rees Scully Mansukhani to fend off a pending breach-of-contract lawsuit. The court action, filed Nov. 25 in Michigan Eastern District Court by Hooper Hathaway PC on behalf of The Town Residences LLC, accuses Crown Castle of failing to transfer approximately $30,000 in utility payments from T-Mobile in breach of a roof-top lease and assignment agreement. The case, assigned to U.S. District Judge Susan K. Declercq, is 2:24-cv-13131, The Town Residences LLC v. T-Mobile US, Inc. et al.
Who Got The Work
Wilfred P. Coronato and Daniel M. Schwartz of McCarter & English have stepped in as defense counsel to Electrolux Home Products Inc. in a pending product liability lawsuit. The court action, filed Nov. 26 in New York Eastern District Court by Poulos Lopiccolo PC and Nagel Rice LLP on behalf of David Stern, alleges that the defendant's refrigerators’ drawers and shelving repeatedly break and fall apart within months after purchase. The case, assigned to U.S. District Judge Joan M. Azrack, is 2:24-cv-08204, Stern v. Electrolux Home Products, Inc.
Featured Firms
Law Offices of Gary Martin Hays & Associates, P.C.
(470) 294-1674
Law Offices of Mark E. Salomone
(857) 444-6468
Smith & Hassler
(713) 739-1250
