2018: The magic circle will be no more By Matt Byrne 2 September 2013 00:00 10 December 2015 22:18 Sign in or register to continue reading. It's FREE Sign in Email Password Keep me logged in Forgot your password? Not registered? It's FREE! Register now Register with The Lawyer Ashley Balls 3 September 2013 at 00:26 The £1M PEP is an ineffective measure and shows very little. Eventually these and other firms will grasp the better metric of measuring Profit Per Lawyer as it respesents a more reliable measure and is not subject to the manipulation of de-equitisation and changes in HR leverage – which have been considerable. Reply Link James 4 September 2013 at 22:15 Kicking Clifford Chance down a run is ridiculous and makes this “analysis” a joke. CC has similar profitability to A&O and is the biggest UK firm by revenue. Reply Link Name Email Cancel reply Threaded commenting powered by interconnect/it code.