Mason Hayes & Curran Surges to €122 Million Turnover, Driven by Robust Growth
Turnover at leading Irish law firm Mason Hayes & Curran jumped by 7 percent to a record €122 million last year, driven by “robust growth” across its operations.
Firm’s Managing Partner Outlines The Year Ahead
Will Carmody, the firm’s managing partner, talked to The Irish Times about the company’s performance. He described 2024 as a year of two halves, noting that the first half was slower but picked up momentum in the second half. Carmody attributes this acceleration to improved macroeconomic conditions, easing interest rates and inflation, and the conclusion of elections, which spurred big investment decisions.
Staff Expansion and Partner Recruitment
Mason Hayes & Curran expanded its workforce to over 650 employees during the year, adding seven new partners to its ranks. This growth underscores the firm’s commitment to maintaining and furthering its market position.
Hybrid Working Strategy
The firm is witnessing a gradual increase in office attendance, aiming for an average weekly presence of mid to high 60 percent, with peaks of 70 percent on Tuesdays and Wednesdays. Carmody emphasizes that the company is balancing high flexibility with responsible office attendance.
International Expansion
Mason Hayes & Curran has bolstered its international presence, adding staff in London, San Francisco, and New York, while also having remote workers in Madrid, Luxembourg, and Berlin.
Outlook for 2025
Carmody expects continued growth, aiming for another 7 or 8 percent increase in turnover. He notes that the legal services market in Dublin is growing and maturing, competing against London and international firms. To remain competitive and attract top talent, the firm needs to maintain significant growth.
Artificial Intelligence and Legal Services
The firm is exploring the use of artificial intelligence in a limited and cautious manner. While they are running pilots with AI applications, they are not using external AI platforms for client or legal advice. Instead, AI is being used judiciously for generic content creation, with plans to expand its use as technology evolves.
Drivers of Growth
A strong pipeline of advisory work on mergers and acquisitions (M&As) fueled much of last year’s growth. Notable projects included advising WaterWipes on a €145 million investment by 3i and LetsGetChecked on the acquisition of Truepill.
Legislative and Regulatory Support
The firm provided extensive support across various legislative changes, dealing with 48 new pieces of legislation and over 700 statutory instruments enacted by the government. These efforts required significant cross-firm collaboration.
Highlights in Specific Sectors
Renewable Energy
Mason Hayes & Curran advised SSE Renewables on its wind joint venture with Bord na Móna and Bord Gáis and Mountside Partners on a dual-fuel power station.
Financial Services
Growth in this sector was spurred by fintech and cryptocurrencies. The firm was the sole legal advisor to PTSB on the sale of a €348 million non-performing loan portfolio.
Property
The firm represented Finglas Regen Ltd in acquiring two big residential development sites and advised Ires Reit on a strategic sale of 194 houses. They also acted for BAM Civil Ltd and Dragados Ireland Ltd in Commercial Court litigation over the Barrow Bridge.
Technology
The firm’s technology unit handled high-profile regulatory and litigation matters for Meta and WhatsApp in the EU and represented several tech platforms in engagements with regulatory bodies, including the European Commission, Data Protection Commission, and Coimisiún na Meán.
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