Tuca, Zbarcea & Asociatii law firm makes EUR 22.4 mln revenues in 2010, predicts flat 2011
Most of its revenues came from energy and natural resources, corporate and mergers and acquisitions, and litigation and arbitration work, each contributing 25 percent to the total. Around 95 percent of the firm's revenues came from the private sector.
“We have managed to keep work levels up, despite challenging market conditions [...]. Our main focus in 2010 was to maintain strong client relationships while also looking out for new business opportunities. On the same note, lateral hiring has been a crucial element of the firm’s growth strategy, with various high-profile additions in 2010 and a significant round of 11 internal promotions, including 6 new partner appointments”, said Florentin Tuca, managing partner at of the firm (in picture).
“Our profits and lawyer productivity soared in 2010, but that was largely due to a mix of cost-cutting measures, new client wins and diversification in existing clients` advisory work. The economic conditions remained tough and 2011 will most likely continue to be an up-and-down year, despite signs of slow economic recovery”, said Gabriel Zbarcea, also managing partner of the firm.
The law firm currently employs 90 lawyers, including 21 partners.
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