Scots legal firm Anderson Strathern unveils profit hike and 'top echelon' hire
Revenues of £26.2 million for the year to August 31 are up from £23.3m in the previous financial year. Operating profit has risen by 12 per cent to £8.4m and profit per equity partner saw a double-digit increase.
Meanwhile, the Edinburgh-headquartered firm has appointed former Deloitte partner Mike McGregor as non-executive director, replacing Graeme Bissett on the board. Bissett had served two terms on the board since 2015.
McGregor spent some 26 years at Deloitte in Scotland, latterly with their client and industries, and human capital teams.
His expertise involves advising high growth and venture capital-backed businesses from early stage through to an exit or key transition event, and working with senior business leaders on their growth strategies. Client activity during his time at the Big Four accountancy firm included Genius Foods, FreeAgent, Blackcircles.com, Skyscanner, Outplay Entertainment and AstraZeneca.
Bruce Farquhar, Anderson Strathern’s chairman, said: “Mike is in that very top echelon on the Scottish business scene, as a trusted adviser to many of the country’s most successful companies over the last couple of decades.
“He is a fantastic replacement for Graeme Bissett, who the board would like to extend enormous thanks to for his valuable service over the last six years, and just the right person to help guide us through our next phase of growth.”
Murray McCall, the firm’s managing partner, said: “As the firm continues to grow, the non-executive director role is key as we map out our strategic plans, and our ambition to be the law firm of choice in Scotland. Getting Mike on board is integral to that process.”
McGregor added: “Anderson Strathern is a much respected firm, renowned for its work across the public, private client, and commercial sectors.
“The firm is in robust financial shape with the capacity to continue to invest in its people and technology, and has significant growth opportunities including in the SME [small and medium-sized enterprise] and corporate sectors. I look forward to working with Bruce, Murray, and the rest of the board in the months and years ahead.”
Anderson Strathern has 52 partners and 295 employees across operations in Edinburgh, Glasgow, Haddington and Lerwick. Clients include Buccleuch, Crown Estate Scotland, Scotmid, Apex Hotels, Ineos and Edinburgh Napier University.
Last March, Anderson Strathern sealed a merger agreement with Lerwick-based Neil Risk Solicitor and Estate Agent.
Anderson Strathern Asset Management, the legal firm’s investment arm, recently unveiled a sharp rise in funds under management and a key hire to lead its new Glasgow operation.
The financial planning and investment business, which is wholly owned by Anderson Strathern LLP, grew funds under management to £341m in 2021, up from £250m in the previous year.
The increase came amid positive market movements during the period and an upturn in new business.
Chief executive Graham Clark said: “Market uplift contributed positively to this result, with an equal contribution from an increase in business from both new and existing clients.”
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