The Lawyer Asia Pacific 150 is the only research report to provide a ranking of the top 100 independent local firms and top 50 global firms in the region. The report offers critical review of some of the fastest growing firms and their strategies, a country-by-country guide to leading legal advisers and legal services market trends, plus exclusive insight into the current business development opportunities in the Asia Pacific. Read more
This year, The Lawyer’s annual ranking of the largest UK law firms by turnover is available as an interactive, digital benchmarking tool. For the first time this will allow you to manipulate each data set against the metrics of your choice.
Addleshaw Goddard is proposing to introduce a points-based bonus system for its salaried partners after plans to introduce an all-equity partnership were abandoned.
Under the new plan fixed share partners (FSPs) and directors would be awarded points reflective of both individual performance and the profitability of the business, with each point equal to the value of an equity partner point.
Recipients would be able to move up and down the points pool and see where they sit in the scheme but would not need to contribute capital to the firm.
Under the current scheme recipients can earn up to 50 per cent of their base salary on the basis of individual performance, while a separate element links rewards to firmwide year on year profit rises.
Last year, however, profitability fell by at Addleshaws, meaning that no salaried partners were eligible for the firmwide profit-linked element.
The firm consulted at the end of last year on eliminating the salaried partner role, but decided instead to tweak the current structure.
This follows news that Simmons & Simmons has redesigned its salaried partners bonus scheme after a reliance on firm-wide profitability meant that not one single partner got paid (TheLawyer.com, 25 January 2010).