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14 January 2005
14 January 2005
17 January 2005
Profit per equity partner: £380,000
Equity spread: £225,000-£450,000
Net profit: £29.6m
Profit margin: 38 per cent
Salaried partner remuneration: £100,000 (all salaried partners are in Hong Kong)
Revenue per lawyer: £275,000
Revenue per partner: £965,000
Revenue per equity partner: £1,003,000
Cost per lawyer: £171,000
Profit per lawyer: £104,000
No of partners: 81
No of equity partners: 78
No of female partners: 12
No of female equity partners: 12
Total no of fee-earners (including consultants, paralegals etc): 366
Total no of fee-earners (excluding consultants, paralegals etc): 284
Total no of staff: 643
Leverage ratio: 1:2.6
Equity partner to staff ratio: 1:3.55
Fee-earner to staff ratio: 1:0.76
Financial management: Clients are billed across the year, with the normal terms of reference being payment within 30 days. Capital contributions range from nil to £90,000.
Equity structure: Twelve-year lockstep ranging from 26 to 100 points, rising in six-point increments. Seventeen partners were at the top of equity last year.
Billable hours targets: None.
Key clients: Allianz Cornhill, Aviva, Ernst & Young, IBM, PricewaterhouseCoopers, 3, UBS, UPS, Zurich.
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