Turnover: £323m Profit per equity partner: £1,040K Earnings per partner: £771K Equity spread: £560K-£1,460K Net profit: £135.2m Profit margin: 42 per cent Revenue per fee-earner: £364K Revenue per lawyer: £406K Revenue per partner: £1,640K Revenue per equity partner: £2.48m Total number of fee-earners: 887 Total number of qualified partners: 796 Total number of partners: 197 Total number of equity partners: 130 Total number of female partners: 31 Total number of female equity partners: 18 Total number of staff: 1,882 Leverage ratio (equity partners/fee-earners): 1:5.1
Intake as percentage of partnership: 16.2 New female partners as percentage of intake: 20.7 Firms recruited from:Allen & Overy, CMS Cameron McKenna, Haarmaan Hemmelrath, Linklaters, Lovells, Norton Rose Equity structure: 120 equity partners, 59 non-equity Practice area(s) most heavily promoted: Finance, corporate *Figures supplied relate to the calendar year
Ashurst’s partnership is continuing to grow at a fast pace, with 34 internal and 20 external appointments in the past three years. This growth peaked in 2006-07, when 29 lawyers were added to the partnership, six of whom were women.
Unsurprisingly for a firm with 75 per cent of its turnover generated in London, seven of those laterals and nine of the promotions were made in the City. The securitisation and finance practices benefited most from the lateral hires, while the promotions were spread between finance, corporate, property and litigation.
Frankfurt has also been bolstered significantly in 2006-07 with six partner appointments, while the firm’s small Singapore office benefited from one internal appointment in finance.
In 2007-08 Ashurst will also revamp its associate career path, introducing an of counsel position as an alternative or added step to partnership across its entire international network.