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.
CMS Cameron McKenna has introduced tougher billing targets for partners in a bid to improve the cashflow from recession-hit clients.
The firm has introduced two-monthly targets for billable hours and cash collection. ;Previously partners were assessed on quarterly performance.
Managing partner Duncan Weston said the move was designed to energise the business during a difficult period, adding: “This simply reflects market situation and brings more discipline and focus to cash management by having more regular target dates.”
The move follows other firms’ efforts to improve lock-up ;performance. Eversheds has introduced a ‘red card’ scheme, which sees partners given a yellow card if bills are sent out on time but are not paid. If billing targets are still not met, partners are given a red card and equity distributions can be withheld for up to two quarters.
Camerons recently overhauled its internal accounting system. The firm now uses a matrix system, pioneered by Weston in Eastern Europe, that allows practice group managers to analyse the performances of individual sectors and the lawyers working in them.