Clydes’ highest paid partner remuneration up 36% to £1.8m

Clyde & Co’s highest paid partner took home £1.8m last year, up 36 per cent on the £1.3m paid out in 2014, the firm’s LLP accounts revealed.

The increase follows a 21 per cent jump in profit from £92.4m to £112.4m and turnover growth of 8 per cent to £396.8m last year.

Charitable donations were significantly down, with the firm forking out just £5,596 to charities last year compared to £43,000 in 2014.

The firm paid its staff £32.5m and employed an average 328 practice and support staff across its business in 2014/15. The total number of staff at the firm fell from 361 although the average salary increased 11 per cent from £86,000 to £95,000.

However, the firm did increase its borrowings by £2.6m, which was largely due to an increase in bank loans. The firm’s borrowings now stand at £53.5m consisting of a £3.5m overdraft and £50m in bank loans.

In December Clydes reported an 8 per cent rise in turnover at the half-year, as revenue grew from £178m to £192m during the first six months of 2015/16.