We have celebrated a year of exceptional growth following unprecedented office openings and lateral hires.
Our global expansion has been supported by a 20% increase in headcount worldwide to over 1,900 personnel, with lateral partner hires and mergers across our offices boosting the partnership to 277 – representing a rise of 37%.
Between 1 May 2017 and 30 April 2018 we added 10 offices across five continents to our global network. We completed a transatlantic merger with US insurance firm Carroll McNulty & Kull, establishing offices in New York, New Jersey, Chicago, Philadelphia and Austin. Our offices in Chicago and New York were further strengthened with major lateral hires from rival firm Sedgwick.
We also established a local presence in one of the world’s most important (re)insurance hubs by opening an office in Bermuda, which specialises in insurance and commercial matters, with former local law firm Sedgwick Chudleigh Ltd. In addition, we opened offices in Melbourne, Bangkok, Paris, and Buenos Aires, and created a formal association with Puerto Rico based firm Colón & Colón.
As a result of these developments, we have reported double digit growth in revenue globally and in the UK. Global revenue for the financial year 2017/18 is up 31% to £196 million, from £149.9 million, and UK turnover increased by 14% to £118 million. The increase in UK turnover was in part due to the merger with Manchester based commercial litigation specialists berg and attracting heavyweight London Market insurance lawyers such as the lateral hires from Mayer Brown.
Despite such significant global expansion, we maintained profitability levels and continued to increase our investment in innovation.