Nabarro has posted a 3.5% increase in turnover to £130.4m for the 2015-16 financial year.
The revenue growth comes alongside an expected increase in profits per equity partner (PEP), with the firm’s preliminary figures suggesting that PEP will rise by 1.7% to £586,000.
The initial results mark steady, continued growth after the 2014-15 financial year, when PEP jumped by 21% to £576,000 and revenue grew by 8% to £126m, the firm’s largest year-on-year increase since 2008.
Nabarro has made a series of lateral hires following the launch of its three-year strategy in May 2015 and, in the second half of the financial year, added 10 partners across London, Dubai, Manchester and Singapore. That is around double the number that came on board in 2014-15 and includes Berwin Leighton Paisner funds partner Victoria Henry.
The firm has also launched a programme of change led by newly appointed COO, Shiree Murdoch, and director of change, Graeme Wood, in an effort to deliver more efficient legal services to clients.
Senior partner Ciaran Carvalho (pictured) commented: “Some of the growth comes from complex multijurisdictional disputes work. Our Dubai and Singapore offices have also started to broaden; international arbitration now extends to corporate real estate and funds advice.”
Carvalho said that work “tailed off” during the last two months before the UK’s referendum on its membership of the European Union, but until then the firm had been “very busy”. He added: “Since Friday the markets have been adjusting. We are talking to private equity clients and also international investors as sterling has fallen and there are buying opportunities for them.”
Highlights for Nabarro during the past financial year have included panel wins and new clients including BP, eBay, the Financial Reporting Council and Land Securities.
In addition, the firm’s Manchester office, which opened in 2014, has acted on more than £1bn-worth of corporate and real estate transactions since its launch and grown to a total of 30 staff, including six partners.
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.
