Stephenson Harwood
A guide to the law firm Stephenson Harwood: what it’s best known for, recent work highlights, what it pays, and its revenue and profitability.
Last updated:
January 15, 2025
A guide to the law firm Stephenson Harwood: what it’s best known for, recent work highlights, what it pays, and its revenue and profitability.
Stephenson Harwood is a mid-sized corporate law firm headquartered in London.
With a long City pedigree, Stephenson Harwood was founded 1875 as a small shipping-focused practice during London’s maritime heyday. Fast-forward a century, and the firm started to focus on expansion.
It was renamed Stephenson Harwood in 1977, became one of the first UK law firms to open in Hong Kong in 1979, and by the end of the 1980s was even regarded as a member of the so-called ‘Club of Nine’ - an informal grouping of the City’s most prestigious firms which would eventually evolve into the Magic Circle.
Its strict shipping focus saw it forced out of the Club of Nine in the 90s, but more expansion followed nonetheless. Stephenson Harwood merged with fellow shipping specialist, Sinclair Roche & Temperley, in 2002 and continued to grow its international footprint, opening offices in Singapore, Paris and Dubai.
Today, Stephenson Harwood has over 1,300 people on the books, including more than 200 partners and has quietly ascended to the mid-sized international firm ranks.
Its London HQ remains the heart of the operation, but the firm’s eight international offices scattered across Europe, Asia, and the Middle East give it a global veneer, while not being a truly global player.
Stephenson Harwood has carved out a solid reputation for high quality advice. While it’s not necessarily considered an ‘elite’ firm, it is highly regarded for its expertise in specific niches.
Its maritime roots remain a cornerstone of its practice, and it is widely recognised as a leader in shipping law. But the firm has successfully diversified into other areas, including litigation, mid-market corporate and M&A work, asset finance and real estate.
As for recent performance, it’s fair to say the firm was hit harder than most by the 2020-21 pandemic. Revenue flatlined - even falling slightly - during the period. Despite the challenges, Stephenson Harwood has bounced back with revenue and profits trending nicely upwards since 2022.
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Recent deal and industry highlights for Stephenson Harwood include:
Acquisition of Addison Lee: Stephenson Harwood advised CityFleet Networks - part of Singapore-listed transport giant ComfortDelGro - on its £269 million acquisition of private car hire group Addison Lee in October 2024.
Private Equity Buyout of Lebara: Stephenson Harwood advised mobile network provider Lebara on its sale to European buyout house Waterland Private Equity in August 2024.
Accor and LVMH Partnership: In July 2024, Stephenson Harwood advised hotel group Accor on its strategic partnership with luxury goods giant LVMH in relation to the development of the Orient Express brand.
All-in on GenAI: Stephenson Harwood has an ambitious strategy to roll-out generative AI across the firm. As well as adopting flagship legal AI tool Harvey, the firm announced a partnership with AI platform Curvestone in October 2024.
Stephenson Harwood is a full service corporate law firm, with a strong focus on shipping and disputes. It is best known for its expertise in the following practice areas:
Shipping: Generally considered to have one of the City’s leading shipping practices, Stephenson Harwood advises maritime clients on the full range of shipping matters. It has a Band 2 ranking by Chambers for Shipping advice.
Asset Finance: Strong across aviation, rail and shipping finance, the firm advises asset owners and lenders. It is highly ranked by Chambers across all asset finance classes.
Litigation: Stephenson Harwood has a highly-regarded commercial litigation practice, advising companies, private equity firms, financial institutions, governments and high net worth individuals on a wide range of disputes. It is ranked in Band 3 by Chambers for commercial litigation.
We use Chambers rankings to demonstrate a firm's strengths. Chambers is the most highly-regarded provider of law firm rankings in the legal industry. Law firms are ranked in bands from 1 (highest) to 6 (lowest) across a range of practice areas.
It's important to note that being ranked in any band at all is still considered a significant achievement.
Stephenson Harwood competes with other leading mid-market players like Pinsent Masons and Addleshaw Goddard, and specialists including HFW and Clyde & Co when it comes to shipping mandates.
Here’s what Stephenson Harwood pays its London trainees and newly qualified (NQ) lawyers:
Trainee First Year: £50,000
Trainee Second Year: £55,000
Newly Qualified (NQ): £100,000
We have a list of salaries paid by all of the UK’s top law firms here.
Stephenson Harwood sits outside the top 25 law firms in the UK by revenue. In 2023/24, its revenue was £264 million.
In 2024, its profit per equity partner (PEP) was £775,000.
In 2024, Stephenson Harwood’s average profit per equity partner (PEP) was £775,000.
This is the total amount of profit available for distribution among equity partners, divided by the number of equity partners at the firm.
This represents the average amount that equity partners are entitled to. Some will receive significantly more, some less. It depends on the firm’s profit-sharing formula and each partner’s seniority.
Stephenson Harwood takes on 25 trainees each year in London.
Trainees complete four seats in different departments, each lasting six months.
The firm offers international secondment opportunities in Dubai, Hong Kong, Singapore and Seoul.
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