Simmons & Simmons profit per partner nears £1.1m
![Simmons & Simmons profit per partner nears £1.1m](https://www.irishlegal.com/uploads/RachelStanton.jpg)
Rachel Stanton
International law firm Simmons & Simmons has reported a seven per cent increase in profit per equity partner to nearly £1.1 million — a 50 per cent increase over the last five years.
The firm saw revenue increase by 10 per cent to £574 million and profit increase by eight per cent to £204 million, according to its unaudited financial results for the year ending 30 April 2024.
The positive results were partly down to the expansion of the firm’s partnership, including 24 lateral partner hires across 10 countries.
The Irish office expanded its partnership to 10, welcoming corporate partner Micheál Mulvey and banking partner Kate Curneen, alongside the promotion of Andrea Brennan to partner within the firm’s dispute resolution, restructuring and special-situations team.
Simmons recently relocated its Irish office to One Molesworth Street due to an increase in staff and rising demand for its services.
Investment in AI and technology, and the development of its global client base also contributed to the strong year of growth across the firm.
The firm’s growth was driven by its focus on four key sectors: asset management and investment funds (AMIF), financial institutions (FI), health and life sciences (HLS), and technology, media, and telecommunications (TMT).
Rachel Stanton, partner and country head for Ireland at Simmons & Simmons, said: “I am thrilled to share our latest financial results which underscore the robust growth and resilience of Simmons & Simmons.
“Our Irish office has played a pivotal role in this success, contributing significantly to the firm’s overall performance, notably with the addition of partners Micheál Mulvey and Kate Curneen, and the promotion of Andrea Brennan, each of whom have strengthened our local and international capabilities.
“The 10 per cent increase in revenue and eight per cent rise in profit firmwide reflect not only our commitment to excellence but also our strategic investments in technology, including AI, and our global client base expansion.
“Our sector-focused approach, particularly in TMT, AMIF, FI, and HLS, continues to position us at the forefront of legal innovation and client service.”