Reflecting the fortunes of City firms, Birmingham’s medium-sized firms have had a better year for profits than their larger rivals, who had big over-heads to sustain in a lacklustre year. While Wragge & Co’s profits per partner dipped by 10% after a below-average year for the Birmingham stalwart and a number of partner departures, firms such as Shoosmiths and Mills & Reeve – both relatively recent players to enter the Birmingham market – have enjoyed healthy profits for 2003-04.

Shoosmiths’ partners in particular must be rubbing their hands at the 66% hike in profits per partner, up to £226,000 from £90,000 last year. The Northampton-based firm added four lawyers to its 18-month-old Birmingham office in March this year, bringing staff numbers up to 55. The firm has stuck to its policy of making lateral hires from local firms rather than bringing in Shoosmiths fee earners from the firm’s six other offices; Birmingham office head Joel Kordan came from Birmingham firm Lee Crowder in November 2002, bringing four assistants with him.