International law firm Pinsent Masons has today announced preliminary details of its unaudited financial results for FY14/15.
The firm achieved global turnover of £362.2m, up 12% on FY13/14.
The results follow a year of expansion at the firm. In March it announced plans to open offices in Sydney and Melbourne, before making up a record 29 partners to take the firm's partnership to over 400 including Islamic finance specialist Amir Ahmed in Dubai.
Pinsent Masons also made a number of significant lateral hires across its global network, including the appointment of renowned corporate partner Osama Hassan in Dubai. The firm also launched a Tax practice in the Middle East led by Ian Anderson, former Director of Tax at the Qatar Financial Centre.
Commenting on the past year, Sachin Kerur, Head of Middle East Region at Pinsent Masons, says:
"The growth of the Middle East region's Dubai and Doha offices has come in response to the increasing demand for services from our clients.
"The legal industry here is highly competitive, but the Dubai and Doha offices together with our operations in Istanbul are key pillars in the firm's international strategy - and the impressive growth shown this year by the firm, reinforces Pinsent Masons' claim to being one of the leading law firms in the region."
Standout mandates for the firm over the past year include advising Dubai Islamic Bank on a USD $127 million Mudarabah facility made available to Emirates Central Cooling Systems Corporation (EMPOWER). The firm has also won plaudits for its innovative Middle East graduate training programme,
John Cleland, Managing Partner at Pinsent Masons, says:
"It has been a positive year in which we have reaped the rewards of several significant investments we have made over a number of years. New offices in Paris, Munich and Istanbul, and significant lateral hires into Asia and the Middle East have all played their part. Our partners, and in particular my predecessor David Ryan, take credit for having developed a fantastic platform for success.
What this demonstrates is how crucial strategic investments are to profitable growth. This has been an 'investment-lite' year by our own recent standards. I would anticipate that over the next year we will make more investments than we did in the year just passed. That will start with the launch of our new offices in Sydney and Melbourne, but won't end there. We've made great progress towards our vision of becoming an international leader in the global sectors in which we operate, and these results position us well to move further and faster in that direction."
About Pinsent Masons
Pinsent Masons is a global 100 law firm employing over 2500 people in total, including over 1500 lawyers. The firm is recognised as among the top 25 most innovative in Europe by the Financial Times. It has market-leading UK coverage, with a significant presence in each of the UK's three legal jurisdictions. Pinsent Masons international profile encompasses four offices in Asia Pacific, two offices in the Middle East and three offices in Europe. The firm has also announced plans to launch in Australia in May 2015.
Pinsent Masons LLP is a limited liability partnership registered in England & Wales (registered number: OC333653) authorised and regulated by the Solicitors Regulation Authority, and by the appropriate regulatory body in the other jurisdictions in which it operates. The word 'partner', used in relation to the LLP, refers to a member of the LLP or an employee or consultant of the LLP or any affiliated firm who is a lawyer with equivalent standing and qualifications. A list of the members of the LLP, and of those non-members who are designated as partners, is displayed at the LLP's registered office: 30 Crown Place, London EC2A 4ES, United Kingdom.
We use 'Pinsent Masons' to refer to Pinsent Masons LLP and affiliated entities that practise under the name 'Pinsent Masons' or a name that incorporates those words. Reference to 'Pinsent Masons' is to Pinsent Masons LLP and/or one or more of those affiliated entities as the context requires. © Pinsent Masons LLP 2013.
Pinsent Masons office network includes the major international business and financial centres of London, Munich, Paris, Doha, Dubai, Beijing, Shanghai, Hong Kong and Singapore and the key business centres in the UK.
© Press Release 2015
