It’s been a tough year for national firm Hill Dickinson. With both profit per lawyer and profit per equity partner taking a tumble of 15% – each at £33,000 and £264,000 respectively – and recent partner and staff redundancies matching others struggling in a turbulent market, the 200-year old firm has confirmed that it has issued a £2.8m cash call to partners to boost the balance sheet due to what managing partner Peter Jackson says was down to a year of heavy investment.
Hefty spending in the last 18 months includes the national firm’s launch of a new office led by resident partner David Reardon in Monte Carlo in March to boost its shipping and yacht practice. It also added a 30-strong defendant insurance team from DLA Piper’s Sheffield and Manchester offices earlier in the year, and invested in new premises at London’s Broadgate Tower for its City team in 2012.
