Mischcon de Reya – a law firm that seems to have got it right?

Posted on: July 20, 2012

As I have blogged before about Mischon de Reya, (most recently http://kimtasso.com/collaborative-marketing-of-family-law-services-debretts-and-mishcon-de-reya and http://kimtasso.com/legal-marketing-case-study-mishcon-de-reya) it was interesting to read the article about the firm in a recent edition of The Lawyer http://www.thelawyer.com/reya-light/1013344.article

Some of the key themes that emerge as to the key to its success include:

  • A strong managing partner – Kevin Gold – in role for 14 years
  • “One of the best brands in the UK legal market”
  • “An enhanced understanding of the law as a product”
  • A three year plan – and a new one being produced
  • 20% revenue growth and smashing its three year budget target of £80m
  • 20% increase in PEP to £700,000
  • Opening of a bespoke litigation practice in New York and the appointment of a director of International
  • Planned conversion to ABS
  • 70 corporate deals worth in excess of £2.1 billion – 65% of which were international
  • A strong dispute resolution practice – the top ten litigation instructions involved disputes with a combined value of £62.5 billion (litigation accounts for over 50% of the firm’s revenues)
  • The creation of Mishcon Private – merging family (including Sovereign funds and family businesses) and private client practices
  • Strong and clearly articulated core values guiding all behaviour – and a stewardship or trusteeship responsibility to invest profits back into the business
  • The creation of a Legal Director role in 2008 to give some lawyers the same status as partners who don’t have the same pressure to generate business

 

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