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Revenue and profits up at Anderson Strathern

Posted: 20th December 2018
  • Organic growth lifts Scottish legal firm’s turnover to a record £22.8m
  • Double digit growth in net profit
  • Firm invests in back office functions, people and technology
  • Murray McCall: “year of good housekeeping, productivity gains and working smarter across the firm”
  • Anderson Strathern experiencing increased Brexit activity
  • £270m under management at Anderson Strathern Asset Management

Scottish legal firm Anderson Strathern has increased turnover to £22.8 million for the year to 31st August 2018 [2017: £21.5M] while reporting profits up by 10 per cent.

The firm’s organic growth trajectory over the last twelve months has been underpinned by significant lateral hires and investment in its business support areas, including the finance function headed by former PwC director Susanne Godfrey who joined Anderson Strathern as Finance Director in November 2017.

The law firm’s Chair, Bruce Farquhar said: “Our record results for 2018 show that our growth strategy is working well and that Anderson Strathern is going from strength to strength.  Our strategic focus on appointing key people both in the legal and business functions to help us with that growth will continue.  All the indictors are that we will also have a strong 2019 with our confident proposition as a leading independent Scottish law firm with expert lawyers operating across the private client, commercial and public sectors.”

Client wins, panel appointments and increased activity across the firm’s private client, commercial and public sector practice groups contributed to overall growth at Anderson Strathern during the year.  The firm was appointed by Crown Estate Scotland as principal provider of legal services and the appointment by APUC (Advanced Procurement for Universities and Colleges) saw Anderson Strathern become the only Scottish legal firm ranked in all lots of the APUC and Scottish Government Legal Services Frameworks.  In March, the firm won Litigation Team of the Year at the Scottish Legal Awards, and in September marked 20 years as an Investor in People (IIP) while retaining Double Gold standard for IIP and Investors in Young People.

Managing Partner Murray McCall also attributed the increased turnover and profits to a clear focus on business operations and productivity gains through smarter working across the firm.  He said: “The year was one of good housekeeping and gains, achieved through teams working smarter across the firm and followed significant investment in our people and technology in 2017.  An even sharper approach to our internal mechanics, alongside an absolute focus on listening to our clients, is paying dividends and is reflected in our record numbers this year.”

Murray McCall added: “It’s our mission to be the employer of choice in the Scottish legal sector and to do that we really have to walk the talk.  We believe in investing in our people, they are our best assets and we are continually striving to create an even better working environment where people feel valued.  In turn, our team go out and provide the highest standards of client service and we’re extremely proud of the culture that has evolved from this process.”

Anderson Strathern Asset Management, the wealth management arm of Anderson Strathern led by former Aberdeen Asset Management Head of Global Distribution John Brett, grew its team during the year and now has £270 million under management.

Anderson Strathern was the first Scottish legal firm to launch a dedicated Brexit unit. The firm is experiencing increased activity around Brexit planning in Q4 of 2018 and will be focusing on providing dedicated services to business clients in the run up to the departure from the EU.

Business Comment

Business Comment is the Edinburgh Chamber of Commerce’s bi-monthly magazine. It provides insight on Edinburgh’s vibrant business community, with features on the city’s key sectors, interviews with leading figures and news on new business developments in the capital.
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