Dentons unveils first post-merger results
Legal Director reports
Denton Wilde Sapte has clocked up a 14% annual boost in its fee income, the first fully integrated results the firm has released since the merger which created it in 2000.Provisional gross fees have climbed to £162.4m from £142.8m last year while average profits per partner have jumped 28% to £330,700, with banking and TMT cited as top performing departments.Dentons has now set a target budget next year of £184m for the year 2001/2002, with profits per partner projected to reach £370,000.The results come amid international expansion in Europe and Asia and a substantial management reshuffle over the past year.Corporate chief Steven Goodman was recently relocated to Asia as head of the firm’s Asia-Pacific practice to build its profile in the region.At the same time, senior project finance partner Neil Cuthbert was also moved to head of banking and projects for the Middle East.Denton Wilde Sapte managing partner Virginia Glastonbury said: “We have seen an increasing amount of cross selling between departments since the merger.”“The banking expertise that came with Wilde Sapte has proved crucial in that respect.”The firm’s TMT and IP practices have both been restructured since the merger on the back of some new client wins.The move comes as Dentons completed its pay round for assistant solicitors, with newly qualified solicitors to receive £48,000. The rate compares to a £50,000 benchmark that has been set by the majority of top tier City firms this year.
This premium content is reserved for
Legal Week Subscribers.
A PREMIUM SUBSCRIPTION PROVIDES:
- Trusted insight, news and analysis from the UK and across the globe
- Connections to senior business lawyers within the leading law firms and legal departments
- Unique access to ALM's unrivalled, market-leading reporting in the US and Asia and cutting-edge research, including Legal Week's UK Top 50 and Global 100 rankings
- The Legal Week Daily News Alert, Editor's Highlights, and Breaking News digital newsletters and more, plus a choice of over 70 ALM newsletters
- Optimized access on all of your devices: desktop, tablet and mobile
- Complete access to the site's full archive of more than 56,000 articles
Already have an account? Sign In Now
For enterprise-wide or corporate enquiries, please contact Paul Reeves on Preeves@alm.com or call on +44 (0) 203 875 0651