Corporate banking and an international focus for Gateley following first post-IPO results

LAW firm Gateley surpassed expectations with its results last week, in its first set since its IPO last June.

The firm increased turnover by 10% to £67.1m in the year to April, with pre-tax profits up 12% to £11.0m, above target

Since raising £30m at its IPO last June, it acquired its first non-legal services business Gateley Capitus and opened an office in Reading.

Partner and head of the Leeds office William Ballmann said that the most noticeable difference between operating as a plc rather than an LLC as a law firm was the lack of a end-of-year rush.

“One thing I’ve seen as a partner over 20 years is that in a standard law firm, everyone comes under pressure to bill at the end of the financial year, thankfully we have avoided this,” he said.

“Investors, our shareholders, want us to be stable, not to bill in everything at the last minute… it was very refreshing.”

In terms of the deals the growing Leeds team has completed, Mr Ballmann said that it had undertaken a smaller number of deals with a higher value, and that Gateley chief executive Mike Ward had held the Leeds office as an example for new offices to follow.

Mr Ballman said that from a standing start, the office has grown, with partner David Armitage joining from DWF to develop the corporate team, and its first non-housebuilding specialist in the property division, Phil Gregory joined the team.

The Leeds office, he said, was looking to grow into a full-service office, as well as having a strong international focus – evidenced by the raft of appointments made this year.

Nicholas Emmerson, appointed to the Law Society Council in an “unheard of” contested election, joined Gateley during this period, bringing with him his international experience and fluency in Japanese after five years spent in Tokyo.

Sandip Khroud also joined from Irwin Mitchell to build on the firm’s specialist international focus, advising on M&A, private equity and PLC client matters relating to both Europe and Asia.

If that wasn’t enough, the office recently became the base for the regional Consulate of the Federal Republic of Germany, with the appointment of consultant Mike Green to oversee German-oriented work.

Mr Ballmann said: “Other law firms have international jurisdictions, and big US firms already have a presence there, but for international mid-tier firms, outsourcing to a UK company which is not in direct competition with them is the obvious choice.”

He said that making strategic appointments with a focus on corporate banking to compliment its strong commercial department would be key to growth this year, and the future is looking bright for the firm, with all eyes on it as the first UK commercial law firm to become a publicly-quoted company.

If they can get a dog named Gateley (by raising £5,000 for the Guide Dogs for the Blind Trust with 3 Peak challenge among other activities) then it will be the feather in the cap of a great year for Gateley in Leeds.