Fieldfisher half-year revenues surge 26% as firm continues to size up Dublin launch
Firms takes in almost £100m during H1 with Dublin marked as "the missing piece post-Brexit"
November 29, 2018 at 05:21 AM
3 minute read
Fieldfisher has boosted half-year revenues by 26% on last year, jumping from £76.7m in 2017-18 to £97m for the first six months of the current financial year.
The firm said that growth was driven primarily by the firm's UK base, as well as its Germany offices, which saw half-year revenues increase by more than 60% on the back of the Frankfurt office launch in May.
Managing partner Michael Chissick, who was recently re-elected for a third term as leader of the firm, told Legal Week: "The last three years have been stonking. We've been able to implement our strategy with a laserlight focus. And we have a sticky partnership – not many people leave, and we have a lot of people wanting to join the firm."
Following a sustained period of international expansion, Chissick told Legal Week the firm is continuing to look at growth opportunities in Dublin, which he describes as "the last piece of jigsaw – the missing piece post-Brexit".
The solid half-year growth was been underpinned by a number of new mandates, according to the firm, including for robotic automation tech company Blue Prism and mining company Strongbow Exploration.
The firm's best-performing areas during the six-month period were its corporate, disputes, finance and technology, outsourcing and privacy groups, which all recorded more than 37% growth.
All of the firm's practice groups boosted revenue by at least 10%, with more than half delivering increases in excess of 20%. The figures cover the firm's offices in the UK, France, Belgium, Germany and Luxembourg and its US office in Silicon Valley, but excludes its association firms, which operate as Swiss vereins.
Chissick added: "We've been focusing on fast growing areas – including life sciences, tech, energy, banking and finance services – and our CIS team has had a great period."
The firm's Russia and CIS disputes teams recently secured a High Court victory in which they set aside a $2.6bn worldwide freezing order against Ukrainian oligarch Igor Kolomoisky – a case that Chissick said "any top five firm would bite their hand off for".
This year the firm opened new bases in Frankfurt and Luxembourg, and a new legal solutions hub in Belfast. It also continued its China expansion with a third office in the southern city of Guangzhou, and merged with Spanish law firm Jausas.
Chissick said his priority now is on integrating the firm's multiple offices, including those with which it has affiliations such as in Netherlands, Italy, Spain and China.
"We're slowing down the opening of offices," Chissick adds. "Now it's about the knitting-together bit – getting offices working together."
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