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.
Partners at Clifford Chance are anticipating a profit per point uplift of around 25 per cent at the half-year stage following a year when average profit per equity partner (PEP) at the firm slumped by 37 per cent.
At the end of the 2008-09 financial year an equity point at the magic circle firm was worth £8,700, down from £13,200 the previous year.
Sources at the firm said early indications suggest that each equity point will be worth around £11,000 at the end of October, which is halfway through the firm’s financial year.
Clifford Chance operates a nine-year lockstep that runs from 40 to 100 points, meaning that at this level its equity spread would theoretically go from around £440,000 to £1.1m. At the 2008-09 year-end the equity spread was £350,000-£870,000.