Legal giant with 570 Scottish staff sees top lawyers pocket £700,000 after boost in revenue

Reporting its year-end results, the company said revenue rose just under 6% to £531.1million. Profit per partner rose by just over 16% – a similar increase to the previous year – to £739,000.

The company highlighted a number of achievements during the year, including investing in its multinational partnership with 75% of all side partner hires based outside the UK. Of his Scotland-based lawyers promoted to associate in May 2022, 50% were women.

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Pinsent Masons has over 450 partners and some 3,300 people operating globally from 26 offices. In Scotland, around 570 lawyers and support staff work from its offices in Aberdeen, Edinburgh and Glasgow.

Katharine Hardie, President of Scotland and Northern Ireland, said: “Good growth supported by sound financial performance has led to an encouraging FY21/22 financial year. Industry and business expertise combined with a mix of professional services skills and use of process and technology has enabled us to advise on a number of high-profile projects, such as the first-ever storage project energy in Ireland, the project of the Equality Law group. working with St Modwen to address the gender imbalance in their business and our data trust work which seeks to harness the power of data to tackle societal issues such as food poverty.

“Half of the lawyers promoted to partner in our Scottish offices in May were women, underscoring the firm’s commitment to gender equality.”

Notable achievements from the company’s Scottish offices over the past year include completing the move of over 200 staff to a new 25,000 square foot office in the Capital Square development in Edinburgh.

The material transactions in which Pinsent Masons’ legal teams advised Springfield Properties’ £46m acquisition of Mactaggart & Mickel’s homebuilding business and its £56m acquisition of Tulloch Homes; the acquisition of OM Heavy Lift by Forth Ports; and the transformational takeover of Sentry Data Systems by Edinburgh-based Craneware.

Katharine Hardie, President of Scotland and Northern Ireland: “Good growth supported by sound financial performance has led to an encouraging FY21/22 financial year.” Photo: Ian Georgeson

In the energy sector, Glasgow-based oil and gas executive Rosalie Chadwick led the takeover of Siccar Point Energy by Ithaca Energy for $1.5bn (£1.25bn), and colleagues from the firm’s team advised Glengarnock-based steel contractor JD Pierce on its sale to Swedish investment group Storskogen.

Pinsent Masons senior partner Richard Foley said: “The progress we have made in diversifying client services, improving representation across the legal profession and taking steps to doing our part to fight climate change all testify to what can be achieved when scaling up measures of success are applied to a business.

“Like many other organisations, we aspire to do the right thing for our customers, our people and our communities, but what we’ve seen since we introduced our broader measures three years ago is that when we measure these things over time, behaviors change.

“Targeted and profitable growth is a consequence of everything else.”

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A global law firm with 500 Scottish employees sees its turnover rise to half a billion…

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