Fieldfisher PEP jumps 22% to top £1m as revenue climbs 15%
Tech-focused UK firm hails strong performance across key sectors and financial markets as fee income reaches £330m
Fieldfisher’s revenue rose 15% during the financial year 2021/22 to reach £330m, fuelling a 22% rise in profit per equity partner (PEP) to £1.05m.
The tech-focused UK firm’s ninth consecutive year of growth has seen it match the 22% PEP increase it reported for 2020/21 but mark a significant step up on the 6% revenue growth it saw during that time.
It is the latest of a string of UK firms to issue a strong set of financial results, as recorded by the GLP results tracker.
Robert Shooter, who succeeded Michael Chissick as Fieldfisher’s managing partner at the start of May, pointed to the firm’s “exceptional growth” in Europe and focus on its core sectors of energy and natural resources, technology, financial services and life sciences as key to its success over the past year.
"Our outstanding performance is a result of a collective effort from teams across our international network and is reflective of high activity levels across the sectors and practices we operate in,” he said.
The financial markets and products practices grew revenue by 28%, with the corporate, real estate and dispute resolution practices also seeing double-digit increases.
A busy year for the equity capital markets, M&A and venture capital teams saw the corporate practice up revenue by 20%. A highlight from the past year was acting for UK adtech company IPONWEB on its $380mn sale to Nasdaq-listed French media trading platform Criteo.
Fieldfisher also flagged its new law credentials, revealing that revenue at its legal solutions platform, Condor, grew by 200% while its 100-employee strong Belfast Solutions Hub upped revenue by 17%.
In Germany, where revenue grew by 16%, the firm added its fifth office, in Berlin, to house its new business unit Fieldfisher X, intended to leverage legaltech to assist clients in navigating the mass litigation market.
Twenty lateral hires secured during the financial year included Quinton Newcomb and Shiv Haria-Shah, who joined as partners in London last December to spearhead the firm's new commercial crime practice. Both had left legal services company Fulcrum last summer to work independently as barristers.
In terms of diversity and inclusion, Fieldfisher said that over the past three years 46% of its newly promoted partners were women, with the figure rising to 60% for this year.
The firm has also worked with clients to implement social mobility programmes, including a paid legal internship in collaboration with architectural firm Gensler, and has introduced a range of new support policies. These include pregnancy loss and parental bereavement services, domestic abuse support and carers and dependants leave policies.
Looking to ESG, the firm pointed to its continued work with sustainability certification provider Planet Mark to reduce its carbon emissions and pro bono efforts for a number of environmental charities and UK food distribution charity FareShare.
Email your news and story ideas to: firstname.lastname@example.org