Dundas & Wilson scales back UK ambitions
Dundas & Wilson has abandoned its strategy of becoming a major UK firm, opting to refocus on growth of its Scottish base.
Co-managing partner Allen Wernham explained that the firm would hone in on three core areas in London - real estate, construction and infrastructure - while refocusing on its Scottish roots.
“People come to us because of our reputation in Scotland. However, in the previous years, we were focusing on building the firm as a major UK firm and had not invested much in Scotland,” said Wernham. “We need to refresh and refocus our strategy to Scotland, because quality Scottish offering is what makes us stand out.”
The firm has kickstarted a recruitment drive for its Glasgow-based paralegal Legal Services Unit and cancelled its 24-place London vacation scheme this summer.
Despite recent restructuring, the firm reported a 10.6 per cent fall in turnover from £54.5m to £48.7m in 2012-13, and a 21 per cent drop in its pre-tax profit from £16.2m to £12.8m. Profit per equity partner fell 22 per cent to £164,000 from the previous year’s £210,000.