Simmons & Simmons has reported a 7% rise in revenue to £615m and a 5% increase in profit per equity partner (PEP) to approximately £1.13m for the 2024/25 financial year.
It also reported profits of £215m, up 6% on last year, albeit at a slightly slower pace than the 8% increase achieved in the 2023/24 financial year.
The firm said profitability had increased more than 70% over the past five years, thanks to a sustained focus on the firm’s key markets and clients while similarly, PEP was also up by 50% over the last five years.
Key business areas behind the increases include those servicing asset management and investment funds, financial institutions, healthcare and life sciences, and TMT, with all four sectors posting gains of 7% to 8%, accounting for more than 80% of total revenues.
The firm said the gains were attributable to deals and disputes spanning Europe, Asia and the Middle East, including multiple transactions with a value of more than £1bn.
It has also focused on continued expansion in the Middle East, having announced plans earlier this month to open a new office in Abu Dhabi, with senior disputes partner Ed Crosse set to relocate to the UAE in the autumn.
Closer to home, it has bolstered its employment offering with the acquisition of Irish boutique firm CC Solicitors, alongside the return of partner Vicky Wickremeratne to the firm’s London office.
The London office was also boosted by the hire of private equity real estate partner Danielle Hirsch from Morrison & Foerster, and energy and infrastructure partner Sara Barin, who joined as a partner from Freshfields in February.
It has also adopted the use of generative AI, having developed its own in-house large language model – Percy – whose adoption has supported clients and attracted plaudits from Microsoft.
In March, it announced it would relocate its London office from its Centrepoint site to 25 Finsbury Circus in 2030, enabling further expansion.
Managing partner Emily Monastiriotis said: “The growth we have seen in this last financial year reflects the success of our highly effective sector strategy and our decision to make a series of strategic investments across the firm.”
She added: “This includes supporting generative AI adoption and upskilling our people, investing in partners across our global practices, and further building our international presence through office expansions. These investments have all further enhanced our client offering and our ability to provide first-class advice on some of the most complex, cross-border mandates.”
Monastiriotis replaced Jeremy Hoyland in April after 11 years in the role. Monastiriotis, the firm’s former head of disputes, is Simmons’ first female managing partner, though Dame Janet Gayner had served as senior partner from 2001 to 2006.
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