According to Carey Olsen, last year was spectacularly good in revenue terms. The firm said that turnover had risen by 20.7 per cent between November 2013 and November 2014.
Overall headcount increased by 7.6 per cent, from 304 fee-earners and staff in 2013 to 327 last year. The firm added seven fee-earners to bring its count to 197.
Lawyer numbers rose from 116 to 128, but Carey Olsen's partnership headcount dropped by two, resulting in a change in the firm's partner-to-associate ratio. In 2013 this stood at 1:1.7, and last year it rose to 1:2.1.
Carey Olsen still has the lowest female partnership proportion in the 10 top offshore firms - its three female partners represent just 7.3 per cent of the partnership.
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ESMA has concluded that ‘no obstacles exist to the extension of the passport to Guernsey and Jersey’.
Liability, exceptions and things companies should bear in mind.