Margaret Taylor
DUNDEE law firm Thorntons is looking to bulk up its employment, banking, intellectual property, agriculture and commercial property practices in Edinburgh, with the aim of seeing the office generate £2.5 million of firmwide turnover.
At the beginning of the 2015/16 financial year the firm moved into new premises in Edinburgh’s Melville Street, doubling the amount of space it has in the city.
After adding Alec Stewart, the former chief executive of Anderson Strathern Asset Management, last year the firm now has eight partners in the city.
Managing partner Craig Nicol said that after sealing three mergers in Fife in recent years the focus now is on bulking up in the capital.
“As we see the benefit of our mergers being delivered alongside a clearly defined strategy for the coming years, there is a real buzz within the firm,” he said.
“We will keep building on our strong national and global links, but remain committed to the Scottish market and look forward to growing our successful business model further in Edinburgh.
“I am looking forward to some exciting conversations with individuals who are interested in being part of our team.”
In the year to May 2016 Thorntons saw its turnover increase by 14 per cent to £22.8m, with Mr Nicol saying that much of the increase was down to the deals in Fife.
If the firm achieves the £2.5m turnover level in Edinburgh it will have seen fee income from the office grow by over 700 per cent in seven years.
In the 2011 financial year the office generated just £300,000 in turnover.
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