April 19, 2024
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LAW firm Gilson Gray says it has beaten internal forecasts by bringing in seven-figure revenue during its first six months of trading.
The firm, which was said to be the first full service firm to set up in Scotland in around 100 years when it opened earlier this year in May, also stated that its staff numbers have grown by one third from 30 to 40.
Glen Gilson, formerly part of the management team at HBJ Gateley, and Matthew Gray, previously a head of property and legal services at Pagan Osborne, set up the firm with the belief they could challenge established players in a sector which has seen a great deal of consolidation in recent years.
Mr Gilson, managing partner, said: “Our strategy has been to drive growth by attracting the best talent in their respective fields.
“Our performance over the first six months of operations has been very pleasing and we are extremely grateful for the support of our client base and the wider Scottish business community.
“A firm launch such as our own has never been attempted before. The breadth of service, scale and geographic coverage of the firm immediately offers clients an alternative provider to the leading Scottish firms.”
The firm said it had won work from a number of businesses including retailer Sports Direct and accountancy firm KPMG.
It has also continued to hire senior staff with Craig Darling, previously with HBJ Gateley, appointed head of business restructuring while former Deloitte executive Garry Fyfe joined as financial director.
Stuart Lindsay, who was with Clydesdale Bank’s corporate division, moved to join the Gilson Gray Financial Services arm which is already said to have £100 million of assets under management.
When Gilson Gray launched it started with a roster of lawyers who had previously been at firms including Young & Partners, Eversheds, Morton Fraser and Gillespie Macandrew.
Mr Gilson said further hires were in the pipeline over the next few months.
The firm is also looking to add new premises outside of its bases in Edinburgh and Glasgow as well as mulling potential acquisitions.
He said: “We wish to break from the perception that lawyers are detached and unapproachable.
“Our financial success to date is merely a reflection of our having applied client views on how legal services should be delivered.
“We hope to announce further senior appointments over the next few weeks, and continue to encourage the very best of Scottish talent to join us. We are currently involved in negotiations for further acquisitions and are also considering expanding into additional Scottish locations.”
The firm has also launched a dedicated fixed-cost human resource and employment law service called Engage.
Mr Gray, managing director of Gilson Gray Property Services, said the firm is keen to keep growing. He said: “To reach such a satisfactory position in our first six months provides proof that [our] strategy is correct and provides us with the confidence to accelerate our growth aspirations.”
