How Exchange Chambers in Leeds enjoyed record turnover of £41m over the past financial year

Leeds-based Exchange has achieved record turnover of £41m for the 2021-22 financial year, buoyed by the arrival of 38 new members since the beginning of 2020.This represents a rise of 32 per cent on Exchange’s 2020/21 turnover figure of £31m. Its pre-pandemic turnover in 2019/20 was £33m.

Jonathan I’Anson, chief executive at Exchange Chambers, said: “The strong performance of the business is a credit to our outstanding barristers, clerks and staff.

“It has been an exceptional effort, particularly in light of the Covid-19 pandemic. We are seeing high quality instructions across all practice areas.”

Mr I’Anson took over as Exchange Chambers’ chief executive as the pandemic first took hold in 2020.

He said: “Having previously worked as a partner in a large corporate law firm, I distinctly remember how certain businesses reacted to the challenges of the 2008 financial crash and learned some significant lessons.

“As a board, we applied those lessons to our Covid recovery plan.

“From the very beginning of the virus we were determined not to pull the shutters down. We stayed on the front foot in terms of plans for growth, investment in the business, marketing, business development and recruitment.”

Mr I’Anson added: “We have focussed on recruitment, bringing in a fifteen-strong family law team from Chavasse Chambers and a number of silks from other Chambers, including Simon Gorton QC and Anesta Weekes QC.

“Indeed, we have taken on 38 new tenants since the onset of the virus two years ago. We also continued with our plans to take six pupils a year, in fact we took on extra pupils.”