ShepWedd pays big bonus as turnover tops £62m

The Haymarket Edinburgh development

Shepherd and Wedderburn has reported 5% turnover growth to £62.2 million in the year to April 30, 2022, with net profits before partner distributions up 3% to £26 million.

In addition to the firm’s performance-related bonus scheme, staff will receive an “exceptional bonus” of 5% of annual salary.

Shepherd and Wedderburn is the largest Scottish-headquartered UK law firm, with offices in Edinburgh, Glasgow, Aberdeen, London and Dublin.

“2021/22 was the first year of Shepherd and Wedderburn’s revised three-year strategic plan which builds on the firm’s longstanding reputation for quality and service and focuses on driving growth primarily in core strength areas including real estate, infrastructure, corporate finance and the fast-growing and innovative sectors of technology and clean energy, where client activity has been particularly strong over the last 12 months,” said the law firm.

“Current clean energy mandates include work in relation to English Round 4, ScotWind, INTOG and Celtic Sea.

“Notable activity this year included acting for TVSquared in its $160 million sale to US-based Innovid, advising Scottish Sea Farms in its £164 million purchase of the UK fish farming interests of Grieg Seafood ASA, and acting for Miller Homes in relation to the Scottish property and planning aspects of its acquisition by Apollo Global Management.

“The past year has seen Shepherd and Wedderburn invest in its office footprint, ensuring premium, highly connected and easily accessible facilities for clients and colleagues, while aligning with the firm’s ambitions to be net zero for greenhouse gas emissions by 2030.

“The firm has relocated to a new Aberdeen office with capacity to double the firm’s headcount in the region, and has agreed to relocate its Edinburgh headquarters to M&G’s Haymarket Edinburgh development in a major investment that will offer a flexible and dynamic working environment for colleagues and allow for continued growth.”

Andrew Blain, Managing Partner of Shepherd and Wedderburn, said: “I am pleased to announce another set of strong financial results.

“Last year was the first year of our revised three-year strategy and I am delighted with the progress we have made. We have achieved the targets we set ourselves for the first 12 months and made a number of strategic investments in people and premises.

“We go into 2022/2023 with a strong and growing platform to support clients and deliver on our 2024 strategy.

“I would like to thank colleagues for their ongoing focus on quality and service, and our clients for continuing to put their trust in us. We look forward to working with them to achieve even more in the year ahead.”

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