Revenue up 14 per cent at Pinsent Masons
Pinsent Masons has reported a 14 per cent increase in revenue to £605.9m in its 2022/23 financial year results.
Profit per equity partner at the firm rose by 7.8 per cent to £797,000.
The firm measures its success against four key metrics: financial success, people, clients and communities.
It exceeded its 20 per cent minority ethnic UK trainee target achieving 21.4 per cent. Glasgow-based partner and former global head of Pinsent Masons’ 900-strong Risk Advisory Group, Laura Cameron, was elected as the firm’s first female managing partner.
Five of the 25 lawyers promoted to the firm’s partnership were based in Scotland.
In terms of deal highlights, Glasgow-based partner Rosalie Chadwick led a team across Aberdeen and Glasgow which advised Ithaca Energy on its £2.5 billion initial public offering (IPO) and Main Market listing on the London Stock Exchange. It was the largest UK IPO of 2022 and the largest energy IPO in the UK since 2012.
The firm supported 130 charity partners on social impact programmes and supported 30,000 young people in its commitment to inspire young lives.
Senior partner at Pinsent Masons, Andrew Masraf, said: “Our commitment to investing in our people, our clients and communities consistently produces results. We’ve had a record year of revenue growth during which we focused on harnessing those investments to provide creative and innovative legal services for clients who are grappling with complex issues in challenging economies.”
Managing partner at Pinsent Masons, Laura Cameron, said: “Over the last year we’ve made significant progress in building out our multinational, sector-led legal and professional services capabilities, promoting 25 to partner across our business and launching 25 new legal services products.
“Our diverse international skillsets are enabling us to deepen our client relationships through the delivery of more sophisticated offerings, tailored to their needs. Despite challenging economic circumstances on a global scale, we have continued to advise on high profile mandates that reflect our clients’ strategic priorities, such as ADB on its energy transition mechanism and supporting NatWest on its first sustainability linked asset-based lending facility.”