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.
UK revenue per partner/equity partner: £1.4m/£1.4m
Global revenue per equity partner: £2.1m
UK/global number of partners: 12/119
UK/global number of lawyers: 52/537
UK number of staff: 64
UK/global leverage ratio: 1:3.3/1:3.5
UK equity partner to staff ratio: 1:5.3
Equity structure: Pure lockstep, taking 15 years to reach plateau.
Billable hours targets: None set.
Billing currency: Majority dollar with some sterling. This year, percentage of billings in sterling and euro is increasing.
Cost of living details: In 2003, there were two US partners and five US associates on secondment in UK. Housing and cost of living allowances are provided, adjusted each month and calculated on an individual basis.
UK-based lawyer remuneration: Partners are paid in dollars. US and UK associates are paid in dollars, which are then converted into sterling at a dollar rate. In 2004, the firm put in place a hedging mechanism for the first time, with the rate set in January and reviewed in July.