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.
Last November, when we published a bunch of the leading UK firms’ half-year results, Simmons & Simmons popped up as one of the worst performers.
Now it’s clear that it wasn’t only the firm as a whole that was hit hard by the post Lehman Brothers trading environment (see story).
As we exclusively report today (see story), individual non-equity partners (Neps) missed out on a share of the bonus scheme the firm introduced at the start of the 2008-09 financial year after Simmons missed its profit budget.
So, it’s back to the drawing board for Simmons. The firm’s head of HR John Lucy - widely seen as one of the canniest in the market - admitted that the old scheme was designed in the pre-Lehman world.
It would be fair to say that a lot’s changed since then. Consequently, Simmons has just overhauled its bonus scheme.
Cue cheers among the firm’s 98 Neps. As the firm’s managing partner admits, “Regardless of the financial crisis, we still need to reward and retain staff in a competitive market.”