© Sheppard Robson
UK arm of global law firm Taylor Wessing posts record-breaking turnover figures, with revenue for 2018/2019 hitting £156.6m
The UK arm of global law firm Taylor Wessing has posted record-breaking turnover figures, with revenue for 2018/2019 hitting £156.6m, a year-on-year increase of 8%. The results, the first to be released by the firm since Shane Gleghorn took over as managing partner in October 2018, also show a 13% rise in profit per equity partner and a 10% jump in overall profits.
Gleghorn has pointed to the firm’s involvement in a string of technology-related corporate deals, including Entertainment One UK’s £178m purchase of Audio Network, as one of the key reasons for this growth. Taylor Wessing formed an alliance with Palo Alto-headquartered Wilson Sonsini Goodrich & Rosati in February of this year and the two firms are cooperating on life sciences and technology-related transactions. Real estate, private wealth and patent litigation were also put forward as major fee generators.
The firm’s global verein, which encompasses its operations across 18 countries, similarly enjoyed strong revenue growth, with turnover up 13% to £339.7m.