Kennedys breaks the mould

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LAWYER NEWS DAILY - 16/06/2009
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Kennedys breaks the mould
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It seems that fortune favours the brave, even in the world of insurance litigation.

While other firms have been trumpeting paltry revenue increases of less than 10 per cent, Kennedys has blown the competition out of the water with a whopping 30 per cent turnover hike and healthy 16.7 per cent rise in PEP (see story).

The firm's merger strategy has clearly paid off. Despite the stormy economic climate, Kennedys has emerged as one of the most expansive firms in the top 100 during the last year.

Last June it acquired insurance boutique Davies Lavery, then in July it took over Reynolds Porter Chamberlain's Tiverton office. It has since launched two raids on DLA Piper, taking eight fee earners and three partners towards the end of last year.

Kennedys is living proof that a recession can be an excellent time to grow if you have the nerve - heartening news for former Mayer Brown bigwig Paul Maher, who is launching a fledgling City practice with US firm Greenberg Traurig (see story).

Kennedys has also closed the gap on the market leader in defendant insurance law, Barlow Lyde Gilbert (BLG). On current form it won't be long before the firm overtakes BLG, whose growth has been stagnant for several years.

BLG chief executive Clint Evans - watch your back.

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Elsewhere on TheLawyer.com our white collar crime special report explains why risk management is more important than ever before and examines the issues thrown up by a move towards American-style fraud pleas. Also, check out the lawyers named in this year's Queen's Birthday Honours List and ever wondered what life would be like as a lawyer in Riyadh?

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