When Theodore Goddard merged with Addleshaw Booth & Co in May 2003 there was much speculation as to whether or not the two firms were 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.
Since the merger, Addleshaws has looked to grow internationally, opening offices in Singapore and Dubai in 2012 and in Hong Kong in 2013, in the hope of increasing its global client base. 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 more notable clients include Sainsburys, Aviva, Barclays Bank, Credit Suisse, Santander and The Co-operative Group.
AG experienced speedy growth in the glory days thanks to its large real estate and corporate departments, with turnover peaking at £196 million in 2007/8. After being hit hard by the credit crunch, turnover recovered by 2014/15 to £193 million. Helped, no doubt, by a beneficial turnaround when it was awarded £12.6 million in legal fees relating to Berezovsky's action.
There was a change of management in May 2014 when John Joyce took over the helm. Joyce set out a new strategy which included raising profit margins to 30% and becoming a top 20 firm with PEP of between £300,000 and £1million and revenue of £250 million. In 2020, even with a Covid dip, PEP was £690,000 (down from from £727,000 in the previous year), and global revenue rose 4% to £288m.
The firm's ambition was welcomed, with one associate telling the RollOnFriday Best Law Firms to Work At survey, "John Joyce gets it. He is already making a difference in the essentials".
Given the strategy that Joyce set out, it is no surprise that hours are hardly slack, but they compare favourably to other large firms. “Hybrid working model is great," said one staffer, "the firm take a relaxed approach and because of this it actually encourages employees to go into the office more as it's their own decision”. One lawyer even “has enough time to write comedy for TV in his spare time”.
The firm also won praise for the people and partners: "Great place to work, normal people who excel at their work but are fun to be with". One associate gushed, “There are loads of nice people. The likes of which will say hello to you in the corridor or urinate on you if you're on fire”. Although this is presumably not official Fire Marshall procedure at the firm.
There were a few grumbles about wedge, but staff complaints about the previous "vague" and "erratic" bonus scheme which, said an associate, "was farcical and widely derided within the firm as a bad joke", did not fall on deaf ears. One said, "we do now actually HAVE a bonus scheme structured to stand a better than nigh-impossible chance of an annual pay out".
Staff complained of an IT system that is out of date, with one associate saying it was "creaking" and another that it was "reminiscent of a crumbling soviet satellite state". Although no extra investment is required in the canteen where the food was described as "too good" resulting in one staff member confessing "I've put on loads of weight since I have joined here".
In the City, the firm is housed in swanky offices overlooking Slaughter and May, the building 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", led some to believe that London was increasingly going to become the focus of the firm and it very much appeared that it was attempting to establish itself as a smart City outfit. However, with a good deal of work still originating from the north of the country, uplanders still pulled their weight. Plus, the Leeds office apparently "has free drinks once a month".
A theme of the Best Law Firm to Work At responses from Addleshaws staff was its "down to earth" character, with the people "for the very large part", as "un-twatty as they come". If you’re looking for a bit of Northern common sense, Addleshaw Goddard may be a good bet. Plus, "one of the partners looks like a pirate".
Pay note: the salary figures are higher in London than in the regions due to London weighting. The pay for trainees and NQs in the firm's UK offices is as follows:
Trainee pay:
London: £52,000 (Year 1). £56,000 (Year 2).
Leeds and Manchester: £33,000 (Year 1). £36,000 (Year 2).
Scotland: £29,000 (Year 1). £33,000 (Year 2).
NQ pay:
- London: £95,000
- Leeds and Manchester: £62,000
- Scotland: £56,000
