Cuatrecasas Gonçalves Pereira has become the last major Spanish firm to reveal its 2008 revenues, with the Iberian giant edging past the €240m income mark.
The firm, which this year added the Gonçalves Pereira names from its Portuguese division to its global brand, registered a 7% increase in fees. This meant 2008 revenue was €240.6m, up from the €224.7m.
Cuatrecasas' transactional practice has remained sturdy despite the recession and the firm was the highest-placed European independent in Thomson Reuters's 2008 European M&A table. The Barcelona-based firm was 21st with a 3.8% increase in deal value, bagging 102 mandates valued at $64.7bn. Cuatrecasas' international client base has been active in the last year with clients including Arriva, 3i and Enbridge all using the firm for Iberian mandates. Cuatrecasas' also secured its long-awaited China launch in 2008.
The results come as Cuatrecasas promotes 26 new partners. Eight of the new promotions are equity partner through Elvira Azaola, Hector Bros, Antonio Carreño, Carlos Ferrer, Guillermo García, Javier Llorente, Antonio Pipó and Fedra Valencia. The rest join the non-equity ranks.
Cuatrecasas is the last of the major Spanish firms to post results. Garrigues, Uria Menendez, Gomez-Aceobo & Pombo and Roca Junyent have already revealed decent financial performance in 2008.