Year of investment for Exchange Chambers
July 5, 2023
Exchange Chambers is anticipating further growth after a year of investment.
The Leeds, Manchester and Liverpool-based set achieved turnover of £41.1 million for the 2022/2023 financial year. Average earnings for barrister members increased while barrister contributions remain low at an average of 12.1% of annual earnings
The period was most notable however for Exchange’s investment in key areas of the business.
Technology has been a particular area of focus, with a six-figure investment in a range of new solutions, including the latest video-conferencing systems in Leeds, Manchester and Liverpool.
Exchange has continued to invest in its Pupillage Academy, announcing its largest ever annual intake of eight pupils while also strengthening its clerking and professional support functions with a range of senior appointments.
Commenting on Exchange’s performance, Chief Executive Jonathan I’Anson said:
“The strong performance of the business is a credit to our outstanding barristers and employees.
“As we experience significant increases in workflows across the Northern and North Eastern circuits, we are absolutely committed to delivering the highest levels of technical expertise, client service and innovation. After a year of ongoing investment, the foundations are in place for future growth and we are inviting applications from high quality practitioners across all practice areas, locations and levels of seniority.”
Encouragingly, the last 12 months has seen an increase in the number of barristers working from Chambers rather than remotely.
“By providing outstanding facilities, technology and practice development support, there is a compelling reason for our members to come into Chambers,” added Jonathan. “Remote working brings opportunity and efficiencies but it also brings with it challenges that need to be met.”
During the course of the financial year, Exchange has also continued to focus on its equality and diversity initiatives. As part of its commitment to inspire people from all backgrounds to pursue a career in the law, the set has expanded its mentoring scheme to cover students across the North. In total, 27 students aged 16-36 have enrolled on to Exchange’s mentoring scheme and are now receiving advice, guidance and practical support. In considering applications to the scheme, Exchange prioritised students with diverse backgrounds and those without family links to the profession.
Exchange has also been recognised for its “outstanding work to improve wellbeing” with a Certificate of Recognition from the Bar Council.
Concluded Jonathan I’Anson:
“As one of the country’s largest barristers’ Chambers it is our responsibility to drive equality and diversity by opening doors and providing opportunities.
“We are also committed to ensuring the wellbeing of our barristers and employees. Indeed, it is at the core of our values and everything we do. We are proactively endeavouring to create a culture that fosters psychological safety at work, in which we encourage barristers and employees to speak up and ask for help and support.”
Exchange Chambers also achieved its highest ever rankings in The Legal 500 and Chambers UK this year.
