Clyde & Co is the latest international firm to announce a double-digit rise in partner profits.
The top-20 outfit has announced that average profit per equity partner grew 10% in 2014/15 to £660,000 on income up 8% to to £395m.
In a statement, the firm said that in the developed markets of the UK, Europe and North America it ‘saw steady growth overall, but with particularly strong performances in the UK from our insurance, international arbitration, sector dispute resolution teams, real estate, projects and construction practice and our oil and gas transactional practice’.
In North America, the firm 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’.
Clyde’s recently formed a specialist International Arbitration Group in London grew 40% last year.
In Asia Pacific, Clyde said it increased revenue by over 30% 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 and China practices.