Turnover dropped by 5.4 per cent, from £22m to £20.8m, at Lincoln’s Inn firm Payne Hicks Beach. This was principally the result of the departures of a three-partner team comprising Louise Stoten, Marcus Parker and Jane Bennet, who left the firm in June 2011 to set up their own practice.
However, the firm also hired partners Sarah Rushton and Sarah Webb, with the latter advising private investigator Glenn Mulcaire in relation to the News of the World phone-hacking scandal, from Dawsons and Russell Jones & Walker respectively. Following the moves partner numbers at Payne Hicks dropped from 32 to 27, of whom just 13 are in the equity.
Payne Hicks is most well-known for its family, private client and employment practices, which together account for 67 per cent of the firm’s turnover. However, it also has a stable of big corporate clients, including the likes of the AA, Fiat, Saga and the Salvation Army.