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CMS Cameron McKenna has more than doubled its predicted growth as turnover rose by 19 per cent last year.
Managing partner Dick Tyler said that the firm had budgeted for a 9 per cent increase but gross fees rose to £162m from £136m. The firm had a buoyant year across all practice groups and the international network CMS. Tyler said that the corporate department performed particularly well. In early June it handled Nomura International's £1.9bn acquisition of Meridien Hotels (The Lawyer, 6 June), in a cross-border transaction involving all CMS firms. Average profits per partner rose 24 per cent from £340,000 to £421,000. Equity partners enjoyed significant pay rises with top of equity tipping £510,000, a 25 per cent increase on their £400,000 gross earnings the year before. The most junior equity partners made £250,000 compared with £175,000 in 1999/2000.