In 2017, Freshfields Bruckhaus Deringer increased its annual sales in the German market to €405.2m, which amounts to growth of 10%. A similar development took place in Austria, where the firm recorded turnover of €55 million and growth of 6%.
During the year, the partners Dr. Annedore Streyl (EY Law), Prof. Dr. Peter Chrocziel (Bardehle Pagenberg) and Dr. Nils Koffka (Allen & Overy) left the firm. For the first time in ten years, the firm hired a career changer, Simone Kämpfer, a criminal lawyer from another firm. In addition, the firm made recruitments in the mid-level sector: with around 490 full time equivalents (ETEs), the firm currently employs 40 more full-time lawyers in Germany than in the previous year. The rise in hiring is mainly due to civil law cases arising from the emissions scandal involving VW, Audi and Porsche.
Despite personnel growth of almost 9%, the firm once again increased its productivity in Germany. Sales per professional rose marginally by 1.3% to €827,100 (previous year €817,000).
Excellent worldwide performance
The VW mandate remains highly relevant for the German practice of the firm. In addition, the restructuring of Merck and the RWE mandate for the sale of Innogy shares contributed significantly to the firm’s results. While Dr. Helmut Bergman, Managing Partner for Continental Europe, was pleased with the growth in Germany and Austria, the firm also achieved a significant increase in sales worldwide. Overall, turnover increased by 5% to €1.4 billion. According to the firm's management, the main growth driver of the global practice was advising American clients, in areas such as digital transformation.