Revenue at Garrigues, Iberia´s largest law firm, increased slightly in the last year to €332.5 million.
It represented a 0.16 per cent increase on the previous year´s figure of €331.9 million.
The firm also reported that revenue per lawyer had increased by 6 per cent, while billings by the corporate department increased by nearly 8 per cent.
Fernando Vives, executive chairman and managing partner of Garrigues, said: “Although a modest growth of 0.16 per cent from last year’s €331.9 million, it signals the return to positive results, and we are confident this will be the trend going forward, as the first months of our last fiscal year were bad, but we actually grew at 4 per cent from January to August 2014.”
The results were disclosed at the firm´s latest partner meeting, at which it was also confirmed that Garrigues would change its financial year. The firm´s financial year currently runs from 1 September to 31 August, but it will change to 1 January to 31 December.
The change will take effect from 1 January 2015 – the firm is now in the middle of a four-month “financial year”, running from 1 September to 31 December.
A firm statement said the change had been made “with a view to better adapting to Spanish market practices and the financial years of the firm’s clients, while aligning the financial year-ends of the practices operating in Latin America.”
The firm has also named seven new equity partners: Francisco Lavandera (Barcelona – Tax); Oscar Arrús (Lima – Corporate/Commercial); Gregorio Nevado (Madrid – Labor and Employment); Mario Ortega (Madrid – Transfer Pricing); José Manuel Hernando (Murcia – Corporate/Commercial); Javier Romero–Girón (San Sebastián – Corporate Commercial); and Javier Calatayud (Valencia – Tax).
This increases the total number of partners at the firm to 292.
The firm has also appointed eight new counsels: Cesar Acosta (Santa Cruz de Tenerife – Tax); Merce Reverter (Barcelona – Administrative Law); Arantxa de Luis (Madrid – Tax); Javier Bragado (Madrid – Corporate/Commercial); Felipe Martínez–Caballero (Madrid – Corporate/Commercial); Pablo Egerique (Vigo – Administrative Law); Martín Pedre (La Coruña – Tax Law); and Bartolome Úbeda (Murcia – Tax Law).