After years of staying under the radar, City boutique Fox Williams has opened up on its financials this year with a £14.8m turnover, a rise of 6 per cent from 2009-10. Profitability is good: a net profit of £4.7m equates to a margin of 32 per cent and the firm’s average profit per equity partner figure stands at £338,000.
Fox Williams has 14 equity partners, with an equity spread ranging from £170,000 to £467,000. Partners sit on a modified lockstep and can be moved up or down depending on performance. Remuneration decisions are made by a committee, which is elected annually. The firm also employed nine fixed-share partners last year, who can also receive performance-related bonuses.
Fox Williams’ strongest department is corporate, although it plans to diversify along practice area lines, and aims to hire in financial services, professional services, fashion law, technology and energy and natural resources.