Cobbetts targets international growth
LAW firm Cobbetts is looking to boost its international work to around 25% of turnover within four years, senior partner Stephen Benson has said.
The firm, which is pursuing an independent course after the collapse of merger talks with DWF, is looking at the Middle East and also Scandinavia as platforms for growth.
Mr Benson, who is also chairman of the firm’s International Group, told TheBusinessDesk.com: “Cobbetts Cairo has already been established and we see the Middle East as attractive, with Saudi Arabia one possible location for us.
“We have close links with firms in Russia and Scandinavia is another really promising location. I believe if you have a platform, you are foolish not to build on it.”
Mr Benson said any international growth would not affect the domestic business. Cobbetts has offices in Manchester, Leeds, Birmingham and London.
“I think there is quite a lot of confusion over the export of legal services – the reality is that it creates jobs in the UK. Some people think that if you are doing work in Russia, you’re creating jobs there, not sustaining and creating jobs in Manchester, Leeds and Birmingham.
It’s all about sustaining the core business,” he added.
Last year the firm’s revenues from global clients grew from £2.5m in 2010 to £3m. In its most recent financial year Cobbetts’ turnover was £44.5m, so the goal of 25% of turnover in four years will be a challenge, but is by no means unattainable.
The firm has recently created Cobbetts International, a cross-border association based in Bern, Switzerland, which will be used as a platform for growth. At present the member of Cobbetts International are the core UK business and Cobbetts International Cairo- the Egypt-based firm.
