has reported a jump in revenue and in senior partner hires and promotions for fiscal year 2016.
For its latest full year, the top tier firm posted revenues of $456 million, up 6.54% from $428 million in the previous financial year, as the law firm moves beyond the law and into creating new services that allows it to work in non-traditional ways for clients to deliver more fully-integrated solutions.
MinterEllison also reported a record 124 senior hires and promotions: 23 new partners, 40 special counsel and 61 senior associates. Last year, the firm reported 110 senior hires and promotions that comprised of 12 new partners, 24 special counsel and 74 senior associates.
The law firm reported it advised in $42-billion worth of infrastructure projects in FY16, up from $34 billion in FY15. The increase in revenue comes despite a downturn in the value of M&A transactions the firm acted on; from $30 billion in 2015 to $15 billion this year.
In terms of enterprise talent, the firm ended its most recent fiscal year with 1,696 people, up from 1,629 last year. Partners increased to 202 from 196 while total legal talent increased to 980 from 917.
According to the firm, its robust performance was evidenced by strong revenue growth, the largest intake of new partners in more than two decades, strengthened client relationships with more than 70% of the ASX 50, a focus on innovation, and an “enviable” pipeline of mandates for domestic and offshore clients.
Chief Executive Tony Harrington
said that an impressive contribution by everyone across the firm's offices in Australia, Asia and the United Kingdom provided the foundation for the successful year.
“Put simply, we're thinking beyond the law. As clients look for better solutions to their problems, we are developing new service offerings that allow us to work with clients in non-traditional ways and that deliver fully integrated solutions – and we’re embedding this approach into our firm's DNA,” Harrington said.
“It's about creating a context and framework where innovation can happen. I have no doubt the firm that partners with its clients to truly innovate and deliver value will distinctively lead the market,” he added.
“We have a clear goal – to be our clients’ best partner by putting our clients at the centre of everything we do.”
The Annual Report also profiles MinterEllison's commitment to the community, through pro bono legal work, student mentoring, workplace giving and voluntary service, and its long-term focus on breaking cycles of disadvantage for young people and those on the margins of society.
The law firm also highlighted its community work, reporting a total of 30,000 hours of pro bono community work worth more than $10 million. The firm said that 63% of all its lawyers did pro bono work this year.
The total funds raised by the firm’s matched workplace giving program increased dramatically to $800,000 from $100,000 last year. It also continued to decrease total CO2e for FY16 to 4,792 tonnes from 5,892 tonnes last year.
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