DLA unveils charm offensive to raise profile as US merger dream takes shape

TRANSATLANTIC ALLIANCE: City firm buoyant after it announces record partnership profits

City firm DLA - which last week announced record partnership profits - has launched a charm offensive in the US with a long-term view to a future transatlantic alliance.

Managing partner Nigel Knowles said that up to 30 US firms were being visited twice a year by partners from D&P, DLA's European alliance.

The US project is headed up by corporate partner David Church, who is chief operating officer of D&P.

It involves up to 25 partners drawn from all D&P alliance members.

Mr Church said: 'It gives us the opportunity to get to know US firms and for them to get to know us.

We don't have great name recognition there so it should raise our profile.'

Lawyers involved in the project report and debrief after their visits 'and it is an agenda topic for the management committee', Mr Church added.

Mr Knowles said the firm has no current aspirations to merge or ally with a US firm, but a senior source at the practice said that after three years, it could become a priority.

The US project could act as a pathfinder for such a move.

DLA's profits per equity partner for the 2001-2002 year-end rose by 16% to 457,000.

They were 395,000 last year.

Revenues reached 203 million, a 15% increase from the 176 million achieved the previous year.

It had set a target of 199 million.

Mr Knowles said that about 12 million would be reinvested into the firm over the next year.

He said DLA's European and and Asia Pacific offices have all improved substantially over the past 12 months, but he acknowledged that the Singapore office was still not profitable.

He said: 'It was not envisaged that Singapore would be turning a profit yet.'

The firm's strategy for 2002-5 is 'to be a top-five European full-service law firm with a significant presence in Asia'.

Jeremy Fleming