Mishcon de Reya has announced revenues of £330 million for the last financial year - an increase of 9% from the previous year, with profits rising 14% to £110 million. This is the first time that profit has exceeded £100 million. It marks another year of robust growth, capping a decade in which the firm has tripled in size and expanded its reach across new geographies and practice areas. The firm continues to report overall profit as a key metric which it believes is a better measure of the performance of the firm.
This year saw Mishcon de Reya involved in some of the most high-profile and complex matters in the UK and internationally, including advising Wayve on Europe’s largest AI investment, winning four major awards for its work for the Federal Republic of Nigeria, and leading landmark cases such as the legal action to secure a conditional pardon for Ruth Ellis, the last woman hanged in the UK.
The Employment team was named ‘Senior Executive Team of the Year’ at the International Employment Lawyer Awards and advised on the Royal Mail takeover and a precedent-setting union election challenge. The Dispute Resolution team acted in several of The Lawyer’s Top 20 Cases of 2024 and successfully defended O2 in a £1 billion collusion claim. Following a 20-week trial, the High Court in London handed down judgment in favour of the joint administrators of London Capital & Finance plc (LCF) and the joint administrators of London Oil & Gas Limited (LOG) in their claim against the former CEO of LCF and various other defendants. Mishcon de Reya acted for the successful claimants. The decision is now a leading authority on fraudulent trading, knowing receipt, and the bona fide purchaser defence, and the case was listed as one of The Lawyer’s Top 20 Cases of 2024.
The Innovation team advised Sokin on a multi-million-dollar transaction with Morgan Stanley, while the Corporate team supported Wayve’s $1.05 billion Series C investment round. The Real Estate team advised on Shiva Hotels Group’s £300 million refinancing of The BoTree Hotel and Brookfield’s £440 million sale of retail parks.
The firm achieved a 9% reduction in carbon emissions and maintained its position as a Top 10 Employer for Working Families. In the latest round of promotions, the firm promoted 27 people to Partner, 13 people to Legal Director and four people to Of Counsel reflecting the depth of talent across the business. The firm also welcomed 16 new partners who took up a range of roles across all departments.
Group Chief Financial Officer Matthew Tilley said: “We are very pleased with the performance of the business. The firm is well placed to continue its impressive track record of growth and continues to attract both clients and lawyers who want to benefit from Mishcon's unique combination of capabilities and culture.”
Managing Partner James Libson commented: "I’m incredibly proud of what we’ve achieved this year. We grew again by all measures - size, revenue and profitability - and undertook a breadth of work that was truly unique and impressive, from advising on Europe’s largest AI investment to winning major awards for our disputes practice and leading landmark cases across our departments. What makes me most proud is the way our people have responded to challenges, upheld our values, and continued to deliver exceptional results for our clients - whether they are start-ups, scale-ups, large institutions, families or individuals - while also making a positive impact in our communities. As we close out our ten-year strategy, we have created a strong platform for the future, and I am exceptionally excited about the opportunities ahead and the quality and commitment of our people.”
Read the full Annual Review