Legal giant with 570 Scottish staff unveils record double-digit revenue hike

Pinsent Masons, the multinational legal firm headed by a Scottish managing partner and with more than 500 staff north of the Border, has unveiled a record double-digit hike in revenues.

Glasgow-based partner and former global head of Pinsent Masons’ 900-strong risk advisory group, Laura Cameron, was elected as the firm’s first female managing partner.

Year-end results show that revenues rose by 14 per cent to £605.9 million, while profit per partner was up 7.8 per cent at £797,000. During the 22/23 financial year, Glasgow-based partner and former global head of Pinsent Masons’ 900-strong risk advisory group, Laura Cameron, was elected as the firm’s first female managing partner. Meanwhile, five of the 25 lawyers promoted to the firm’s partnership were based in Scotland.

Among the key Scottish deals undertaken during the year, Glasgow-based partner Rosalie Chadwick led a team across Aberdeen and Glasgow which advised Ithaca Energy on its £2.5 billion initial public offering (IPO) and main market listing on the London Stock Exchange. It was the largest UK IPO of 2022 and the largest energy IPO in the UK since 2012.

Pinsent Masons employs more than 3,500 staff globally, including about 570 lawyers and support staff at its Scottish operations in Aberdeen, Edinburgh and Glasgow.

Cameron said: “Over the last year we’ve made significant progress in building out our multinational, sector-led legal and professional services capabilities, promoting 25 to partner across our business and launching 25 new legal services products. Our diverse international skillsets are enabling us to deepen our client relationships through the delivery of more sophisticated offerings, tailored to their needs. Despite challenging economic circumstances on a global scale, we have continued to advise on high profile mandates that reflect our clients’ strategic priorities.”

Senior partner Andrew Masraf added: “Our commitment to investing in our people, our clients and communities consistently produces results. We’ve had a record year of revenue growth during which we focused on harnessing those investments to provide creative and innovative legal services for clients who are grappling with complex issues in challenging economies.”

During the year, the firm announced changes to its leadership team following Richard Foley and John Cleland reaching the end of their permitted two terms as senior and managing partner, respectively. Masraf took up the role of senior partner in October 2022.

Top billing: Multinational legal heavyweight elects Scottish litigator as new managing partner