DLA Piper revamps sector strategy to focus on seven key areas
DLA Piper is to shrink its sector focus, moving from 15 key industries to seven, in an attempt to increase profitability
September 07, 2015 at 09:37 AM
2 minute read
DLA Piper has overhauled its sector focus as part of its drive to increase profitability and will now concentrate on seven key industries.
The strategy is the result of a review commissioned by co-chief executives Simon Levine and Jay Rains after they took up the joint leadership role in January.
It shrinks the firm's key areas of focus from 15 sectors to seven: real estate; insurance; banking and financial services; energy; life sciences; technology; and media, sports and entertainment.
These sectors will be the focus of investment and development as the firm bids to further drive profitability.
The review was led by co-sector heads Jan Geert Meents and Ann Ford. The sectors chosen were ones where DLA already had a strong presence and a good potential for growth.
The media, sports and entertainment and energy groups are the smallest of the seven, but are seen as areas with good scope for future growth.
In May DLA launched a consulting business to focus on advising clients on financing, corporate and M&A activities within the media sector.
Earlier in the year it advised the Premier League on its £5.14bn TV rights deal with Sky and BT.
DLA's results for 2014 saw the firm post a record profit of $667m (£404m) and average profit per equity partner of $1.49m (£903,000) – also a record high – against flat revenue of $2.48bn (£1.5bn).
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