Pinsent Masons announces FY23/24 results

Our financial success:

Revenue - FY23/24 - £649.6m PEP - £793,000

Our clients:

• Advised Plastic Collective as recipients of funds via a first-of-a-kind sustainability bond to deliver plastic recycling projects in Ghana and Indonesia.
• Advised on groundbreaking low-carbon technology to support the transition to low carbon/no carbon economies, while safeguarding global energy supply. Projects include supporting the clean-tech transformation of the City of Wuppertal’s bus transport network in Germany, supporting the UK’s first wave of commercial-scale carbon capture projects and investment into innovative green hydrogen development.
• Utilised the firm’s pan-European capabilities to assemble a cross-border Madrid and Dublin team to advise Azora on its acquisition of two hostels in Barcelona and Dublin supporting its entry into the Irish market and significantly expanding Azora’s portfolio.
• Advised International Finance Corporation on the project financing for the development of the Thanaleng dry port in Laos – a central aspect of the Lao government’s transport and logistics hub development.

Our people:

• Recruited 41 lateral partners and promoted 22 to partner as the firm seeks to build out new offices and invest in its global sectors and practice groups.
• Boosted female leadership appointing Melanie Grimmitt to head of the Clients and Markets Group, hired Chief Technology Officer Tracey McDermott and Chief People Officer Hannah Koslova Lindsay.
• Invested into expertise and mobilised interest across our business via a proactive approach to AI adoption, launching a Tech R&D team to explore, test and socialise technology.
• Invested in AI technology rolling out Microsoft Copilot across the business.

Our communities:

• Collaborated with Tesco to support its legal work experience programme in which aspiring lawyers working across its shop floors are coached by a Pinsent Masons team to help build their understanding of the legal profession and support their journey into law.
• Collaborated with Hong Kong-based disability employment charity Care in Education and Recruitment (CareER), leading workshops, mentoring sessions, career clinics and internship programmes to support aspiring lawyers with disabilities in pursuing a career in law.
• The firm’s trademark specialists provided pro bono legal services to Women’s Aid as the charity expanded its Rail to Refuge programme which financially supports victim-survivors of domestic violence travelling to refuge accommodation across the UK.
• Supported professional services pro bono organisation Fifth Day to enable it to connect business operations specialists from across the legal industry with volunteer and trustee opportunities. Furthermore, the firm has worked with it advisory board to expand its law firm network to a total of 21 to facilitate pro bono support from a broader range of professional services experts.
• Created over £400,000 of social value through our investing in communities work.

Senior partner at Pinsent Masons, Andrew Masraf, said: “We’re proud of the progress we’ve made in advancing our multi-disciplinary, multinational sector-led strategy, reporting healthy financial performance which enables us to remain resilient and to reinvest into our business. Set against the backdrop of the challenges of global inflationary pressures and climate change and an uncertain political and socio-economic environment, now more than ever, businesses like ours have a vital role to play in supporting our people, clients and communities.

“Last year we supported a broader range of organisations through our pro bono work and engaged with more clients on meaningful social mobility initiatives that seek to shift the dial and broaden access to law. We look forward to building on this success as we seek to apply our legal expertise more broadly across our communities.”

Managing partner at Pinsent Masons, Laura Cameron, said: “Longstanding year-on-year growth has enabled us to remain resilient and to invest into critical aspects of our business such as tech innovation, professional services capabilities and boosting our partnership via a combination of strategic lateral hires and internal promotions.

“From launching a satellite office in Abu Dhabi to strengthen our cross-border Middle Eastern capabilities to being the only law firm supporting the UK Government’s AI opportunity forum exploring how to more effectively deploy AI, we’re focused on enhancing creative and forward-thinking legal services delivery.

“While every business continues to grapple with a challenging economic environment, we’ve advised on a number of high profile mandates across our multinational business including supporting the International Finance Corporation on its dry port development in Laos and advising Técnicas Reunidas on its energy transition project in Eastern Europe.”