Record year for law firm with highest ever turnover and all staff bonus
Law firm Mills & Reeve has announced record turnover of £168m for 2023/24, a 14.1% increase with the Manchester office seeing fee income rise by more than 11%.
The firm’s fees grew by 14.6% surpassing ambitious targets set for 2025 a year in advance.
The highest ever all-staff bonus pool of £3m will be paid out, with staff receiving between £2,420 and £2,783 depending on length of service.
In Manchester, fee income was up by more than 11% on the back of client wins, lateral hires and the launch of practice areas. The office also welcomed Ruj Dev who recently joined as the firm’s new chief financial officer.
Chris Ross, head of the Manchester office, said: “It’s been a strong year for the office against a challenging backdrop. Headcount has increased significantly with several high-profile hires including partner Simon Prendergast to launch the Manchester banking team, and private client partner, Christopher Noel.
“All teams have had an excellent 12 months and we’ve continued to enhance our presence in key sectors such as technology, life sciences, food and drink and healthcare. We’re continuing with our investment in recruiting highly-skilled lawyers and look forward to expanding our client base in the North West, across the UK and internationally as we press on with our growth strategy.”
Managing partner Claire Clarke said: “Our growth is a direct result of the hard work and dedication of everyone at Mills & Reeve. We believe in rewarding our staff for their contributions, and I’m thrilled to announce this record bonus as a token of our appreciation.
“It’s been a year of significant strategic investments, including the addition of 22 new partners to the firm and a new Birmingham office. These developments not only contribute to the firm’s growth but also reinforce our commitment to providing an exceptional environment for our people.
“As we look to the future, we remain dedicated to enhancing our systems and technology while making sure crucial issues such as sustainability and wellbeing remain at the top of the agenda, ensuring we remain a true leader in the legal marketplace.”
