05:48, July 17 719 0

2017-07-17 05:48:08
Withers turnover rises 8 per cent as firm promotes six City lawyers

Withers latest financials show an 8 per cent growth in revenue from £161.5m to £174.5m in 2016/17, as the firm boosted its partner headcount with a global round of eight promotions.

In 2015/16, Withers enjoyed a 21 per cent turnover uplift on the back of a wave of international expansion through formal alliances with Singapore firm KhattarWong and new offices in California.

The firm has not yet confirmed its average profit per equity partner, which dropped 16 per cent in 2015/16 to £305,000.

CEO Margaret Robertson said: “This year’s financial results are very encouraging, and are the result of hard work by our people around the world and focused management of the firm following our substantial international growth over the past few years.

Alongside the financials, Withers has also promoted eight new lawyers to partnership in its latest global round. Six out of the eight hail from London, with the remaining two based in New Haven and Hong Kong.

More than half of the eight are women, and 50 per cent of the newly-promoted partners work in the firm’s private client and tax teams.

The other four specialise in employment, real estate, dispute resolution and corporate.

The London cohort consists of employment lawyer Claire Christy and real estate specialist Peter Lamb. Eleni Polycarpou works in the dispute resolution team, while Claire Harris and Ed Jarron sit in the private client group.

The line-up contrasts to last year’s promotions round in which just one City promotion was announced out of seven. The firm prioritised its Asia and US offices, making up three Asia partners and two US lawyers.