Cuatrecasas grows by 12% in 2018, reaching turnover of €277.4 million

2019年3月28日

Cuatrecasas grows by 12% in 2018, reaching turnover of €277.4 million
Cuatrecasas grows by 12% in 2018, reaching turnover of €277.4 million
  • This is highest increase in last decade and represents another year of continued growth.
  • The increase in turnover has occurred homogeneously across all practice areas and offices. International billing represents 12.3% of total.
  • Growth is due to our increased offer of cross-sectoral services and reinforcement of practice groups, and coincides with renewal of management positions and key appointments.
  • Cuatrecasas continues to be committed to innovation and technology, as well as placing priority on (i) equality policies to promote female talent, (ii) flexible working hours, (iii) and processes to improve service efficiency.

The firm has achieved a turnover of €277.4 million in 2018, meaning a 12% increase compared to last year. This is the highest turnover increase in the last decade and consolidates the firm’s growth trend, with its turnover continuing to grow.

The excellent results occurred homogeneously across regions and practice areas, with performance in the Madrid, Barcelona, Lisbon and international offices being particularly strong. Consequently, international billing represents 12.3% of the firm's total turnover. Madrid has increased its sales volume by 13.3%, followed by Barcelona (9.3%), the remainder of Spanish offices (9.1%), the Portuguese offices (7.8%) and the remainder of offices (3.4%). Revenue distribution by practice area follows the trend of previous years with the Corporate and Commercial Practice taking the lead (39.2%), followed by Tax (30.5%), Litigation and Arbitration (22%), and Labor and Employment (8.3%).

Rafael Fontana, our senior partner, stated “the excellent results arise from our firm meeting our Strategic Plan milestones, which has promoted collaboration between practice areas and offices, commitment to innovation, international growth and new policies focused on people.”

 Key appointments

In 2018, Cuatrecasas made 11 lawyers equity partners of its main practice areas. It also hired the following lawyers as partners: Álvaro Botella (Litigation and Arbitration Madrid), Joaquín Huelin (Tax Madrid), Carolina del Campo (Tax Madrid), Alfonso Gómez-Acebo (Litigation and Arbitration Madrid) and Miguel de Almada (Litigation and Arbitration Lisbon). In the early months of 2019, the firm has also hired new partners: Soraya Sáez de Santamaría (Corporate Governance and Compliance Madrid), Pedro Marques Bom (Competition and EU Law Lisbon) and Pedro Llorente (Labor and Employment Madrid).

The firm renewed coordination positions in practice groups such as Competition and EU Law, Labor and Employment, and Finance and Tax, as well as various committees relating to ethics and good governance.


Team grows with focus on equality

The Cuatrecasas workforce grew by 3.4% in 2018, bringing the total of employees to 1,633. This increase applies to both lawyers and support staff across all offices.

Highly committed to equality, in 2018, the firm approved 18 measures aimed at removing obstacles to the promotion of female talent and female leadership through training, pilot programs and policies.

The firm has also approved measures that promote flexible working, efficiency and a work-family balance. The digital transformation has played a key role in this process thanks to a major investment in technology and training plans to strengthen digital skills.


Investment in innovation

Innovation is also a key part of the firm’s strategy. In 2018, it reorganized its Knowledge and Innovation Group, which has 40 experts focused exclusively on research, development and innovation tasks to develop research projects for the team and clients, including the development of artificial intelligence tools.

Cuatrecasas Acelera, the startup accelerator program for the legaltech sector, has held its third edition and launched a pioneer initiative in the legal sector: the issuing of tokens for legal services through blockchain. This is a pilot program and only applies to the winning projects of the last edition of Acelera: Blocktac and FuVeX.

In 2018, prestigious legal directory Financial Times Innovative Lawyers recognized Cuatrecasas as “most innovative law firm in continental Europe” and in its “Strategy & Changing Behaviours” and “Collaboration” categories. The directory also recognized Jorge Badía, Cuatrecasas managing partner, as one of the 10 most innovative lawyers in Europe for his role in the firm’s transformation.

 

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