Cobbetts
No of Partners: 136
No of Assistant Solicitors: 180
www.cobbetts.co.uk
Cobbetts is a relatively new kid on the Leeds block, but also one of the most ambitious of the city’s burgeoning middle tier.
Cobbetts, which has its roots in Manchester, entered the Yorkshire market through a merger with Leeds practice Read Hind Stewart in 2002. Since then, it has almost doubled in size to 97 lawyers through a process of strategic local hires (for example, a corporate team from Irwin Mitchell in 2002) and organic growth.
The firm has grown its Leeds base by 20% per annum since the merger and intends to maintain the same rate of expansion for the foreseeable future. It has also added Birmingham to its list of locations, through its merger this year with Lee Crowder, and added to its Manchester presence through merging with Fox Brooks Marshall. It plans to open a small London office this year.
While its multi-office network may resemble some of the national firms in terms of geographical spread, there are some key differences it would like to retain, says Leeds' head of corporate, Guy Jackson. Jackson says that, despite its size (Cobbetts has a further 168 lawyers in Manchester and 87 in Birmingham), the firm remains a 'local' firm at heart in terms of its internal culture and client service.
The firm sees an opportunity to attack the smaller plc, SME and owner-managed business market (which currently accounts for approximately 90% of its client base) reputedly being left behind by the big six in Leeds. However, its key selling point against the phalanx of other local middle tier firms seeking to do the same, is its size. It already acts for clients such as Haribo, Magnet, Affinity Plc, Alfred McAlpine and property developers, the Caddick Group.
“We provide all the expertise that you would expect from a larger practice, but delivered in a more personal way” Jackson says. “There has traditionally been clear blue water between the big six and the middle tier, but we have firmly occupied that gap.”
The firm claims to have a larger banking department in Leeds than Hammonds and more M&A lawyers locally than Pinsent Masons. It has handled deals of up to £46m – far bigger, Jackson says, than the pre-merged Read Hind Stewart could have handled.
“The opportunity for us in the Leeds market is to say to owner-managed businesses - ‘If you’ve got a deal of £5m-£10m, we’re better at it. And if you’ve got a larger transaction, we’ve got the resources to handle that too” he says. “People say that you can’t be all things to all men, but you can if you price and resource it right.”
Given its anticipated rate of growth, the firm will be continuing to recruit quite heavily in the coming years. However, this doesn’t mean the firm will not continue to be choosy about who it takes on. At senior level, it is keen on those with experience of bigger transactions at national firms. The firm is also keen on people with local connections and knowledge.
Cobbetts came in at number 11 in the 2004 Sunday Times ‘100 Best Places to Work’ survey and it is keen to retain its reputation as a pleasant and motivational place to work. Jackson says that the firm wants ‘SWANs’ - people who are Smart, Work hard, Ambitious and are, above all, Nice.
“It may sound naff, but it does describe the sort of people that we want here if we are to retain the culture” he says. “This is a people business and if people enjoy their work, then that is reflected in client service.”
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