Fieldfisher’s profit per equity partner (PEP) has increased 22% to surpass the £1 million barrier for the first time.
The figure has jumped nearly £150,000, from £860,000 in 2021 to £1,050,000, according to the firm’s results for the year 2021/22 financial year. It comes amid wider growth as the firm’s revenue climbs 15% to £330 million.
Areas seeing the most marked growth include corporate and financial markets and products, each seeing topline growth swelling by 20% and 28% respectively.
Financial gains were steady across the firm’s international bases with its U.K. offices posting revenue growth of 17%, and its German offices 16%.
The firm’s alternative legal solutions platform, Condor, also had a successful year, up 200% on 2021.
Over the course of the last financial year the firm made a total of 20 lateral hires across its offices.
Fieldfisher’s mid-market rivals have also posted growth this year, albeit more modest. Shoosmiths PEP rose 3% compared to 41% the previous year and RPC’s decreased by nearly 10%.
Meanwhile, Taylor Wessing saw a 27% increase in PEP to £877,000.
Fieldfisher’s managing partner Robert Shooter said in a statement: “Our outstanding performance this year is a result of a collective effort from teams across our international network and is reflective of high activity levels across sectors and practices we operate in. In-line with our strategic focus, we have recorded exceptional growth in Europe.”