In the third full financial year since the merger of FBC Solicitors and Manby Steward Bowdler, West Midlands firm FBC Manby Bowdler posted a turnover of £12.9m and a net profit of £3.3m. This is an improvement on the previous year’s figures, with a post-merger restructuring that saw a number of job losses in the conveyancing team finally having an impact on the bottom line.
The firm, which has offices in Bridgnorth, Shrewsbury, Telford Willenhall and Wolverhampton, is run out of the former location by managing partner Kim Carr. Her management team includes the heads of HR, IT, marketing and finance, as well as the legal department heads.
Partners are remunerated according to a modified lockstep that sees them enter the equity on six points and gain one point per year to a maximum of 12. Positions can be halted or accelerated, but not reversed.
Those at the bottom of equity have £22,500 invested in the firm, while plateau partners’ capital contributions are £45,000.