Addleshaw Goddard (London)

Our view...

When Theodore Goddard merged with Addleshaw Booth & Co in 2003 there was much speculation as to whether or not the two firms were really suitable bedfellows. TG was a small, City practice with a big reputation, and an unusual media department. Addleshaws was the gruff Northern outfit with a small City office and a history of solid corporate finance and real estate work. But rather like champagne and Guinness, what looked to be an unlikely combination seems to have blended together.

The firm has a three-office model, with lower overheads in Leeds and Manchester allowing partners based in the North to take on work farmed out by its London office at lower rates. On the upside this means that lawyers in the regions get decent work, on the downside they’re paid much less than their colleagues in the City for doing it…

Like every other firm, AG has been trying to develop its corporate and finance groups in recent years. And it hasn’t done a bad job of it: its clients include the likes of Sainsburys, Travelodge, 3i and Diageo, and it survived a number of panel shake-ups and won new appointments, including four more to Barclays' panels.
 
AG experienced some speedy growth. It increased its turnover for 2007/2008 to £195.4 million - a 10% boost from the previous year - mostly thanks to its large real estate and corporate departments. However these areas were hit hard by the credit crunch and despite good showings from the insolvency and projects practices the firm's turnover dipped 3.3% in 2009/10 to £165.5 million for 2009/10, down from £173.3 in 2008/09. And this year has seen yet another fall, with revenue slumping a further 3% to £161.9m.

And while quite a few departments - corporate, finance, real estate - have seen income fall, it's not all doom and gloom. Litigation fee income has increased by 25% and the firm has been involved in some pretty high profile matters, not least the Berezovsky litigation. The professional services department, too, has put in a good showing.

Hours are hardly slack, but they compare favourably to other large firms. “Fairly flexible about working from home, and the working hours are good” says one associate. Although he adds, almost unbelievably, that “you have to have a business case to get a Blackberry”.

The firm also wins praise for “taking diversity and social mobility very seriously”. It came 40th in the 2008 Sunday Times 100 Best Companies to Work For survey, with one senior associate commenting that “they are very good at respecting individuality and are trying hard to make things easier for working mums (and dads), notably by encouraging flexible working at all levels”. Another added "It's a pretty friendly place to be and they do try hard to look good and do the right thing". The firm also takes its pro bono efforts seriously and was one of the first UK law firms to make a significant commitment in this area. 

The firm has also taken on swanky new Milton Gate offices, designed to bring almost all of the London based staff under one roof.  AG's subsequent bandying around of phrases such as the "Milton Gate Effect", lead some to believe that London is increasingly going to become the focus of the firm and it very much appears that it is attempting to establish itself as a smart city outfit. However, with good deal work still originating from the north of the country - for clients such as 3i - the northerners are pulling their weight.

If you’re looking for a bit of Northern common sense in the City Addleshaw Goddard may well be a good bet. Plus "one of the partners looks like a pirate."