THE man set to take charge at Wright, Johnston & Mackenzie LLP has said the law firm can thrive as an independent focused on Scotland and is capable of doubling turnover in the next three years.
Fraser Gillies, WJM’s managing partner designate, said moves by bigger rivals to focus on the top end of the market have left a gap which the firm can fill with a focus on the Glasgow, Edinburgh and Inverness areas.
“We think there’s still good opportunities in that part of the market we focus on,” he said. “Wealthy individuals, smaller corporates, SMEs; there’s a lot of quality work to be done.”
Mr Gillies, who will succeed Liam Entwistle on 1 April, said the firm will continue to major on the renewables, telecommunications, healthcare and family business sectors.
The planning specialist reckons WJM could increase turnover to at least £15 million in the next three years, compared with £7m in the year to March 2016.
He said the firm had been making good progress after investing heavily in providing the kind of relationship-based service that clients increasingly demand.
It is on course to grow sales to more than £8m in the current year and to deliver a higher profit than the £2m achieved last time.
The firm has felt the benefit of the merger it agreed in October 2015 with Inverness-based MacArthur & Co, whose four partners joined WJM. In August 2015, it recruited four staff from McLure Naismith after that firm went into administration.
Mr Gillies said the firm had no interest in being taken over by a bigger business. It will consider merging with smaller firms but is not in talks about any deals.
WJM may use lateral hires to help boost growth.
It has 23 partners and 49 fee earners.
Mr Entwistle will return to focusing on dispute resolution after three and a half years as managing partner, during which the firm has grown revenues by over 15 per cent.
He said: “It’s been personally very rewarding, however the time is right, in terms of my own personal journey, to hand over the reins.”
In December Mr Entwistle predicted there would be more consolidation in the legal sector as the economic issues caused by the Brexit vote impacted on the profession.
Mr Gillies joined WJM as a trainee in 2000 and qualified in 2002. He was promoted to partner in 2010.
He has advised clients involved in retail, housing, infrastructure and energy developments throughout the UK.
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