Clyde & Co’sGlobal turnover grew to almost PS640m in 2020/21 while profits rose seven percent to PS153.5m.
The average profit per equity partner increased by 7.5%, from PS665,000 up to PS715,000.
Clyde & Co. CEOMatthew KelsallSubmittedThe Lawyer: “We are a large, broad-based company and many of our practice areas as well as a lot of our offices throughout the firm were extremely busy last year.”
He stated that the surge in work caused by the pandemic had helped to boost the firm’s insurance business. They also achieved temporary cost savings.
He said that, unlike many firms, we didn’t face the same cost pressures as normal years because we were not occupying offices and so forth. It’s a combination, but I wouldn’t underestimate the cost savings. We did a lot in key areas, and were able to generate profits from that.
Last month, the firm elected its fourth senior partner from 2013,Carolena Gordon. She is the first non-UK citizen to assume the role, and the first woman to do so.