The Lawyer Africa Elite 2014 features an in-depth look at 46 leading independent firms’ strategies in 15 key sub-Saharan jurisdictions, as well as the views of in-house counsel from some of Africa’s largest companies... 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.
Berwin Leighton Paisner (BLP) has posted a record set of figures for 2003-04 as the firm’s profitability has leapt by a stunning 40 per cent.
Turnover went up 12 per cent, from £91m to £102m, while average profits per equity partner (PEP) have jumped from £303,000 last year to around £425,000 – although this figure has yet to be finalised. BLP is understood to be aiming for an average of £500,000 in partner profits next year.
The year-end figures confirm BLP’s shift away from the dominance of real estate as a practice area. Corporate revenues saw an increase of over 35 per cent, banking was up 25 per cent and property finance rose by 30 per cent, while real estate posted a small rise of some 5 per cent. Two mandates, TXU and Le Meridien, together netted well over £5m.
Managing partner Neville Eisenberg denied that the PEP increase was due to de-equitisations, although he acknowledged that the number of equity partners was down by four. He told The Lawyer: “Unsensational though it is, this is down to a significant improvement of quality of work coming through the firm – the pitches we’re winning and the panels we’re getting onto. We’ve been able to generate new work from existing clients. Everyone’s worked like hell and it’s an amazing result.”