Venal & Grabbit partner profits top £2m

Profits per equity partner (PEP) at magic circle firm Venal & Grabbit have topped £2m for the first time since the recession.

The end-of-year figures released today by the SW1-based firm showed revenues were up for the last financial year to "a highly satisfactory figure, but one that we would rather the taxman did not know".

Partnership profit rose by "a certain percentage, to a certain amount", as the firm expanded its divorce and insolvency departments.

But it is the PEP figures, up by "a large percentage" on 2009/10, which stand out, with partners bringing in more than £2m for the first time since the boom years of 2006/07 and 2007/08.

Senior partner Edgar Venal added: "The year ahead looks exciting for V & G.

"Our breadth of high-quality practices across all major fields, and our market-leading expertise in divorce, make us extremely well positioned to make a killing from our clients."

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Clifford Chance partner profits top £1m
- Law Society Gazette, 5th July 2011