06 May 2022

Fladgate rings in UK financial reporting season with 30% revenue jump

Income at top 100 London firm reaches £66.5m with PEP also expected to hit record high

Managing partner Grant Gordon Image courtesy of Fladgate

UK financial reporting season is underway, with Fladgate posting record revenue growth of 30% for the 2021/22 financial year to £66.5m.

The London-based top 100 firm said it would also be a record year for profit per equity partner (PEP), which it expects will exceed £875,000.

Fladgate managing partner, Grant Gordon, said the firm had seen solid growth across its practice areas. 

“The current market opportunity for Fladgate, given its focus on premium work for fast-moving businesses and HNWIs, has accelerated quickly. Our strategic market focus and ability to be nimble means that the economic challenges that are likely to persist over the next year will continue to present opportunities for the firm to deliver premium solutions at a pace for our clients.”

The firm, which is highly ranked by the Legal 500 for its work on matters including smaller M&A deals (worth up to £50m), immigration and gaming & betting, has seen 54 fee earners join since last April and now houses more than 300 professionals. 

Among the new arrivals were 10 partner-level laterals split across the firms’ dispute resolution, corporate, real estate and funds, finance and regulatory practices, with the most recent arrivals being that of debt finance duo Ted Harrison and Ed Fuller last month from DWF. Fladgate said the hires were in line with its aim to rapidly build out skills and experience that complement its market position. 

Last year the firm introduced a new governance and leadership model to support its business plan. The model separated governance and oversight from the strategic and day-to-day running of the firm by establishing two new bodies – a governing board and an executive board. The former is led by the firm’s senior partner, Sunil Sheth, while the latter is headed by Gordon. 

And last May it launched a family office service through its new Walgate brand, which was set up to offer non-legal professional services to its clients. Walgate Family Office – the first business announced under the Walgate umbrella – provides administration support for wealthy families such as financial admin and reporting, risk management, asset and property management, relocation services and philanthropy. It is led by Sarah Haile, head of family office services at Fladgate, and partner Jonathan Riley, Fladgate’s head of private wealth.

The firm followed this up with the launch of Walgate Debt Solutions last month, which is intended to provide access to debt to its client base drawn primarily from its corporate and real estate offerings.

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