City law firm donates £2 million profit slice to Covid charities
Simmons & Simmons cash contribution follows solid financial results
Simmons & Simmons has pledged to donate £2 million of its global profit to charity off the back of a strong financial year.
The international firm recently reported profits of £171 million, up 35% on the previous year, and today announced it will donate a one-off £2 million slice to charities providing relief to those affected by the Covid-19 pandemic.
The donation pot will be split across Simmons’ international offices, with the aim that charities across the firm’s network will be able to benefit. They can reward organisations doing important work either in their local communities or further afield, a statement from the firm said.
Commenting on the donation, senior partner elect Julian Taylor said: “The strong financial results we have recorded, coupled with the significant and long-lasting impact of the pandemic have driven us to make this one off donation.”
“While it has been a good year for Simmons, we are acutely aware that the same cannot be said for everyone. Making an additional charity donation of £2 million is our way of holding ourselves to account and recognising the broader social responsibility that we have. Part of being a next generation law firm is understanding this social responsibility and acting accordingly.”
Alongside soaring profits, Simmons reported a 12% increase in revenue to reach £437 million and a 30% rise in profit per equity partner (PEP) to £980,000.
In May, law firms Clifford Chance and Baker McKenzie raised several thousands in emergency relief for India, a country hit hard by the coronavirus. Both firms then matched the donations.