International law firm Clyde & Co has today announced further growth with an eight per cent increase in revenue to £395 million, with average profit per equity partner (PEP) up by 10 per cent to £660,000.
The pattern of growth in the firm reflects the firm's sector focus and the balance of its practices across both developed and emerging markets.
In the developed markets of the UK, Europe and North America we saw steady growth overall but with particularly strong performances in the UK from our insurance, international arbitration, sector dispute resolution teams, real estate, projects & construction practice and our oil & gas transactional practice. Our professional lines and expanding Manchester offering drove our expansion in insurance with double digit growth. Our real estate, projects & construction practice took advantage of the improvement in the UK market and London partners' involvement in resolving international disputes. In North America we saw growth in a number of our core insurance coverage teams and continued growth in our market leading professional lines and cyber practices. In Europe, our recently opened office in Madrid grew strongly.
To complement the strong arbitration practices of our sector teams we have formed a specialist International Arbitration Group in London and this practice grew by 40 per cent last year. Our network and immersion in so many aspects of international trade continue to attract clients to this practice and we have three new lateral partner hires to our International Arbitration group over the year in Singapore, Beijing and New York.
In Asia Pacific we have increased revenue by over 30 per cent for the second successive year, driven by exceptional performances in our insurance and dispute resolution practices in Australia, as well as the firm's Singapore, Hong Kong...