Stephenson Harwood

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Overview

Stephenson Harwood was ranked in 35th place in Legal Week's 2008-09 UK top 50, with turnover holding steady at just over £85m, while profits per equity partner fell by 1.6% to sit at an average of £610,000.

Much of the firm's strong performance in recent years can be attributed to current chief executive Sunil Gadhia (pictured below), who, as one observer comments, has got all the partners "rowing together and, what's more, rowing faster" since he took the helm in 2004 - quite a feat given the firm's once notoriously hard-to-manage partnership.

History

The firm was formed as Harwood & Stephenson in 1875 by William Harwood and Henry Stephenson. Harwood had returned to London after practising in China, and brought with him his links to the Hong Kong and Shanghai Banking Corporation, and HSBC remains a major client of the firm to this day.

In 1920, City firm Tatham & Lousada merged with Stephenson Harwood - as the firm was by then known - in 1920 to form Stephenson Harwood & Tatham, shortening its name back to Stephenson Harwood in 1977.

Two years later the firm was one of the first UK outfits to enter the Asian market, and has now been in Hong Kong for thirty years.

2002 saw the merger with City shipping specialist Sinclair Roche & Temperley, gifting it a Shanghai presence.

Culture

The firm's 'Giving Back' programme focuses on three core areas - workplace, community and environment - and covers activities ranging from pro bono, support for UK and international charities and internal measures aimed at reducing the firm's environmental impact. Recent initiatives include involvement in a pioneering forestry conservation project, support for art education in Kenyan schools and an IT equipment re-use initiative.

Key departments

The firm's finance practice is one of the main drivers of the business, incorporating a successful aviation practice headed by former Lovells partner Guy Liddle, a robust litigation practice and a successful corporate group.

Significant deals the firm has acted on during the past two years include:

• discharging the largest-ever English freezing order ($12bn)
• the UK's largest-ever fund of funds initial public offering;
• the biggest ever initial public offering in sub-Saharan Africa;
• the first ever Shariah-compliant insurance outsourcing deal; and
• the acquisition of Europe's largest shopping mall

National/international coverage

The firm's international expansion began in 1979 with the opening of its Hong Kong office. New offices were later added in Guangzhou (1994), Piraeus (1996), Singapore (1996) and Paris (2001).

Key clients

As well as HSBC, key clients of the firm include The Bank of Tokyo-Mitsubishi UFJ, BUPA, Capita, Christie's International, EDF Energy, HSH Nordbank, KPMG, the London Development Agency, Royal & SunAlliance and Transport for London.

Leading partners

A number of hires have given the firm a wider base and a more synchronised feel in recent years. Key recruits include aviation finance partner Paul Richardson from CMS Cameron McKenna, Nabarro transport head Mary Bonar and Addleshaw Goddard real estate partner Robert McNally, among others.

Career prospects

Salaries

As of April 2009, newly-qualified lawyers receive £63,500. Year one trainees take home £35,000, while those in year two of their training receive £40,000.

The firm has moved away from associate lockstep, instead rewarding candidates on their individual performance and contributions to the firm.

Recruitment

Work-life balance

Diversity

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