Turnover down at Wragge & Co, but firm is happy with overseas expansion
Birmingham legal giant Wragge & Co saw its turnover shrink seven per cent for the financial year to £96.2 million, but the company said it was investing for expansion.
The last year saw the company put money into the opening of the new 10-partner Paris office on April 1, and the expansion of the offering in Munich with its first overseas partner promotion in Alexander Bayer.
Three new partners joined from other firms. Wragge & Co added to its City-based corporate practice with a new private equity partner– David Marshall from Travers Smith. Bevan Brittan LLP senior litigation partner Tom Ellis joined the firm. HBJ Gateley Wareing partner Vicki Conway moved to Wragge & Co to head the Birmingham arm of its national corporate recovery practice.
Managing partner Ian Metcalfe said: "Our clients continue to feel the effects of a turbulent economic climate. We’re working hard to help them; looking at fee arrangements, sharing risk and adding value through commercial thinking or innovative problem solving. Turnover is down, but we are making investments now for the firm’s long-term prosperity."
As of July 1, Wragge & Co has 124 partners operating from six offices.
