Boodle Hatfield achieves best financial results in its 300 year history
Boodle Hatfield, a leading private wealth and real estate law firm, continued its trajectory of profitable growth by announcing today that fee income during the 2022-23 financial year rose from £30.7m to £32.5m, reflecting a 5.8% year on year increase.
These financial results come as the firm closes its 300th year in business – making this the best year on record.
Over the last six years the firm has averaged an annual increase of 6% in revenue and a 12% increase in profit.
Commenting on these results, Senior Partner, Andrea Zavos said:
“With global economic headwinds still firmly on the horizon, there remained cause for caution at the start of our financial year. However, we have seen robust levels of activity across the firm’s core practices which has driven our growth in revenue.
We are delighted that we have been able to continue to realise solid growth. This continued success is testament to our people, who collectively ensure we deliver the very best quality advice and meet the ever-changing needs of our dynamic client base.
We have seen a continued uplift over the last eight years – with fee income up by more than 45% over that period – with our strategy of building, developing, and acquiring exceptional talent paying dividends. Our ability to continue to grow revenue in a difficult business climate demonstrates the quality of these practices and the expertise at the firm.”
In the last twelve months, the firm has bolstered its offering with five lateral partner hires. This includes the recent arrival of Andrew Loan, former corporate tax Partner at Fieldfisher; Nicola Bushby, Private Wealth Disputes Partner from Irwin Mitchell; Zoe Jacob, formerly with Farrer & Co, who is heading up the firm’s newly established Immigration practice; Construction Partner, Sarah Rock, who joined from Fladgate; and Corporate and Private Capital Partner, Richard Elliott, who joined from Ince. The firm also recently promoted commercial property lawyer David Rawlence to Partner in the Real Estate team. This exceptional growth follows eight further lateral hires in the past six years and seven partner promotions. In addition to the partner hires, earlier this year the firm brought in Brian Aris from Harbottle & Lewis to join the management team as Chief Operating Officer.
The firm is also delighted to report an 80% trainee retention rate this year and looks forward to welcoming five new trainees to the firm in September reflecting its continued investment in future talent and growth of its people.