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ABS conversion has helped us to work with clients in innovative ways, says BWB managing partner

London law firm reports 12 per cent revenues growth for FY14/15

20 July 2015

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By Manju Manglani, Editor (@ManjuManglani)

Bates Wells Braithwaite (BWB) has today announced that it achieved revenues of £20.38m in FY14/15, up 12 per cent year on year.

The London law firm has made significant changes and investments since its conversion to an alternative business structure (ABS) in June 2014.

"Converting to an ABS has provided us with opportunities to work with our existing clients in innovative ways," said managing partner Martin Bunch.

In the past year, BWB created its 'advisory and impact' division to target the social investment market and brought in accountant Jim Clifford to lead it.

"This work increasingly complements our charity and public sector expertise as new models encourage corporates to be more responsible and charities to be more commercial," said Bunch.

BWB continues to focus on working for and partnering with values-driven organisations, with 60 per cent of the firm's clients coming from the charity, social enterprise and public sector.

The firm also invested in its corporate and commercial team in FY14/15. The firm said the team has "seen considerable growth in its key sectors of technology, financial services and digital media".

Other practices which reported increased turnover are employment, real estate, and charity and social enterprise, boosted by lateral hires and key tender wins.

In June 2014, BWB became the first law firm based in the City of London to obtain an ABS license specifically to provide a unified service to clients.




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