Dentons posts 6% rise in PEP in UKMEA
Firm sees continued growth in PEP and revenue after year of rapid expansion globally
June 17, 2016 at 10:51 AM
3 minute read
Profit per equity partner (PEP) at Dentons' UK, Middle East and Africa (UKMEA) limited liability partnership rose 6% in 2015-16, the firm announced today.
PEP last financial year was £530,000, up from £502,000 in 2014-15 when it jumped by 23% from its 2013-14 level.
According to the snapshot figures release today, revenue at the regional arm of the global firm rose by 7% to £165m in 2015-16.
Dentons made a net profit of £39m in 2015-16, a 15% increase on £34m the previous year.
Meanwhile, net cash in the bank at the end of 2015-16 was £13.2m. Last financial year, the firm's net cash position at year end was just £4.2m, while in 2013-14 it had net debt of £7.3m.
The firm's UKMEA chief executive Jeremy Cohen attributed the growth to the firm's rapid expansion, both globally and in the UK.
He said: "The benefits of being part of a global firm is that a huge proportion of our work involves more than one region and office. We've also grown a lot in the UK, not only in London, through lateral hires and by building out our Milton Keynes office and taking over Matthew Arnold & Baldwin's (MAB) banking litigation team in Watford."
Cohen also highlighted the firm's corporate practice as a strong contributor to the results. "Corporate has had a particularly strong year, with very strong dealflow and some significant new additions to that team who have really made an impact, such as David Collins and Martin Mankabady," he said.
Collins joined the firm in December from Berwin Leighton Paisner while Mankabady joined in November from Clyde & Co.
Dentons opened in Watford in January this year by hiring MAB's entire banking and finance litigation team, comprising 11 partners, 34 associates and 30 paralegals.
Dentons' UK managing partner, Brandon Ransley, added that UK's disputes practice had led to "significant growth in team revenue" and that it had been boosted by the addition of the Watford office.
During the past 12 months, Dentons has announced a raft of tie-ups with other firms across the globe. Most recently, it entered into merger agreements with Colombian law firm Cardenas & Cardenas and Mexican firm Lopez Velarde Heftye Y Soria in December 2015.
Panel wins for the firm in the past year include US car rental service Avis, Nokia, John Lewis, Royal Mail and Network Rail.
This content has been archived.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
© 2024 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 AllDentons mulls plans to extend secondment programme to China
Trending Stories
- 1Gibson Dunn Sued By Crypto Client After Lateral Hire Causes Conflict of Interest
- 2Trump's Solicitor General Expected to 'Flip' Prelogar's Positions at Supreme Court
- 3Pharmacy Lawyers See Promise in NY Regulator's Curbs on PBM Industry
- 4Outgoing USPTO Director Kathi Vidal: ‘We All Want the Country to Be in a Better Place’
- 5Supreme Court Will Review Constitutionality Of FCC's Universal Service Fund
Who Got The Work
Michael G. Bongiorno, Andrew Scott Dulberg and Elizabeth E. Driscoll from Wilmer Cutler Pickering Hale and Dorr have stepped in to represent Symbotic Inc., an A.I.-enabled technology platform that focuses on increasing supply chain efficiency, and other defendants in a pending shareholder derivative lawsuit. The case, filed Oct. 2 in Massachusetts District Court by the Brown Law Firm on behalf of Stephen Austen, accuses certain officers and directors of misleading investors in regard to Symbotic's potential for margin growth by failing to disclose that the company was not equipped to timely deploy its systems or manage expenses through project delays. The case, assigned to U.S. District Judge Nathaniel M. Gorton, is 1:24-cv-12522, Austen v. Cohen et al.
Who Got The Work
Edmund Polubinski and Marie Killmond of Davis Polk & Wardwell have entered appearances for data platform software development company MongoDB and other defendants in a pending shareholder derivative lawsuit. The action, filed Oct. 7 in New York Southern District Court by the Brown Law Firm, accuses the company's directors and/or officers of falsely expressing confidence in the company’s restructuring of its sales incentive plan and downplaying the severity of decreases in its upfront commitments. The case is 1:24-cv-07594, Roy v. Ittycheria et al.
Who Got The Work
Amy O. Bruchs and Kurt F. Ellison of Michael Best & Friedrich have entered appearances for Epic Systems Corp. in a pending employment discrimination lawsuit. The suit was filed Sept. 7 in Wisconsin Western District Court by Levine Eisberner LLC and Siri & Glimstad on behalf of a project manager who claims that he was wrongfully terminated after applying for a religious exemption to the defendant's COVID-19 vaccine mandate. The case, assigned to U.S. Magistrate Judge Anita Marie Boor, is 3:24-cv-00630, Secker, Nathan v. Epic Systems Corporation.
Who Got The Work
David X. Sullivan, Thomas J. Finn and Gregory A. Hall from McCarter & English have entered appearances for Sunrun Installation Services in a pending civil rights lawsuit. The complaint was filed Sept. 4 in Connecticut District Court by attorney Robert M. Berke on behalf of former employee George Edward Steins, who was arrested and charged with employing an unregistered home improvement salesperson. The complaint alleges that had Sunrun informed the Connecticut Department of Consumer Protection that the plaintiff's employment had ended in 2017 and that he no longer held Sunrun's home improvement contractor license, he would not have been hit with charges, which were dismissed in May 2024. The case, assigned to U.S. District Judge Jeffrey A. Meyer, is 3:24-cv-01423, Steins v. Sunrun, Inc. et al.
Who Got The Work
Greenberg Traurig shareholder Joshua L. Raskin has entered an appearance for boohoo.com UK Ltd. in a pending patent infringement lawsuit. The suit, filed Sept. 3 in Texas Eastern District Court by Rozier Hardt McDonough on behalf of Alto Dynamics, asserts five patents related to an online shopping platform. The case, assigned to U.S. District Judge Rodney Gilstrap, is 2:24-cv-00719, Alto Dynamics, LLC v. boohoo.com UK Limited.
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
