Staff bonus boom as law firm posts record turnover
UK law firm Mills & Reeve, with its fulcrum in the Cambridge technology cluster, has increased turnover to a record £110.9 million – up 4.3 per cent on last year – and handed staff a handsome bonus in the process.
The business has announced an all-staff bonus of £1,500 for every full time employee who has been with the firm for at least a year.
The results follow a year in which the firm won a number of accolades in recognition of the progress it has made in delivering its ambitious 2020 strategy.
The Cambridge office reported a three per cent rise in fee income following organic growth and new client wins.
Claire Clarke, Mills & Reeve managing partner, said: “It’s been another great year for Mills & Reeve and we are delighted that the hard work of everyone who works at the firm has been formally recognised through a number of major award wins and accolades.
“It’s also pleasing that growth has been achieved at the same time we have invested in a number of high-profile lateral hires in key areas of the business and the implementation of major infrastructure projects, including a new project management system and website.
“The growth of the firm would not be possible without the hard work of our people in delivering outstanding service to our clients. We are also proud that our people and our culture remain front and centre of everything we do and are key to our success.”
Nick Finlayson-Brown, head of the Cambridge office added: “This is a great set of results for the firm and yet more good news for the business.
“Cambridge is widely recognised as having one of the fastest growing economies and the cross section of businesses that are moving here reflects that. Our office in Cambridge is uniquely placed to work with these rapidly expanding and exciting businesses and we are working on several exciting projects over the coming year that will embrace this.”