Codex Edge, an independent market research company dedicated specifically to the legal industry and referred to by The Lawyer, published statistics this week declaring that in 2023, Bexley Beaumont led the way on growth in respect of the Top 200 UK law firms for compound annual growth by headcount.
Codex said that whilst many large practices had struggled to attract talent, Bexley Beaumont had seen its partner ranks grow by 27 per cent.
Bexley Beaumont was also placed fifth overall in terms of growth by headcount for all UK platform law firms. They said the firm's "outstanding" performance was due to a structure which was "noticeably different" to those of their competitors.
Codex said “They are just not hiring any fee-earners, they are very strategic in terms of their recruitment. They have been remarkably successful in positioning themselves as the fee-share firm of choice for talented lawyers. It is this different approach that is making Bexley Beaumont hugely attractive”.
Bexley Beaumont's co-founder and Chief Executive, Karen Bexley, has described the findings as "a celebration". “Everyone involved at Bexley Beaumont knows our aim is not to be the largest firm by partner numbers, so the fact that we rank so highly on this list is a testament to our different approach and offering”.
"When we launched, we were determined to present something which was quite distinct in terms of how we intended to operate, informed by our experience of running and working within both fee share and traditional law firms.
"In particular, we wanted to appeal to incredibly capable lawyers who not only wanted greater control over how they work but were attracted to the idea of a strong firm culture and strategic approach to who else was appointed.
Bexley Beaumont, the study found, had "the highest Compound Annual Growth Rate of any UK based firm", and "outperformed many larger and more established firms in terms of attracting fee earners".
During 2023, Bexley Beaumont has appointed 21 partners across a breadth of specialisms, taking its total partner number to 54, with an additional four Associate Solicitors.
As well as its top ranking in the Codex Edge listings, the boutique firm's success has seen it become a fixture in the legal and business awards.
This month they were also shortlisted for Innovative Law Firm at the Legal 500 Northern Powerhouse Awards 2024. Earlier this year they were shortlisted in the Alternative Legal Service Provider of the Year category at The British Legal Awards and in the Law Company of the Year category at The Lawyer Awards - a competition celebrating "the UK's legal elite".
This recognition followed Bexley Beaumont in March 2023 being named as the Boutique Law Firm of the Year at the Legal 500 Northern Powerhouse Awards.