Fieldfisher posts 10% half-year revenue rise after run of merger deals

Michael Chissick

Fieldfisher has posted a 10% rise in revenue for the first six months of 2016-17, with fee income up to £64.1m from £58.4m at the same point last year.

Standout practice areas during the past six months have included technology, intellectual property and dispute resolution, according to managing partner Michael Chissick.

Chissick said: ”Given the current economic environment across Europe, not to mention the uncertainty over Brexit, we are very pleased with these results. We remain committed to Europe and have recently moved to larger premises in Duesseldorf, due to our growth.”

Chissick also noted that the firm’s Brussels and Paris offices have performed “particularly well”.

The firm posted a revenue increase of 7.5% for the 2015-16 financial year, with total turnover growing to £121.5m, while average profit per equity partner was up 8.7% to £550,000.

It has been a busy six months for Fieldfisher, which has signed three merger agreements during this period alone. Earlier this month, the firm merged with Birmingham-based Hill Hofstetter and, in another Swiss verein deal, with Beijing’s JS Partners. Meanwhile in July, it merged with Italy’s Studio Associato Servizi Professionali Integrati (SASPI).

The SASPI deal is structured as a Swiss verein, with SASPI adopting the Fieldfisher brand name and the two firms maintaining separate profit pools. SASPI, which has 170 staff in total including 21 partners, has offices in Milan, Rome, Venice and Turin.

Looking ahead, Chissick said Fieldfisher plans to continue its international expansion, focusing on opening offices in Amsterdam, Barcelona and Madrid. Chissick added: “I don’t think we will open more UK offices; we’re not trying to become a national firm.”