Dickson Minto
UK 200 RESULTS 2010
Movement since 2009
Turnover (£M):
Profit per equity partner (£K):
Earnings per partner (£K):
Equity spread (£K):
Net profit (£M):
Profit margin (%):
Revenue per fee-earner (£K):
Revenue per lawyer (£K):
Revenue per partner (£K):
Revenue per equity partner (£K):
Total number of fee-earners:
Total number of qualified lawyers:
Total number of partners:
Total number of equity partners:
Total number of female partners:
Total number of female equity partners:
Total number of staff:
Leverage ratio (fee-earners per equity partner):
UP
29.5
821
821.43
610-1100
11.5
39
320.7
536.4
2,107.1
2,107.1
92
55
14
14
1
1
150
2.93
Anglo-Scottish firm Dickson Minto had a fair year in 2009-10, although the firm’s longstanding focus on private equity continued to hurt its bottom line.
Turnover rose marginally from £28m in 2008-09 to £29.5m, while net profit stayed relatively flat, nudging down from £11.7m to £11.5m. Average profit per equity partner, which had topped the £1m mark for several years, regained some ground, rising from £731,000 in the previous year to £821,000.
The firm cut its partnership during the past year, from 17 to 14, with all of those sharing in the equity. Those at the bottom of the equity received a profit share of £610,000, while plateau partners pocketed £1.1m.
Compensation is decided by a three-strong team that includes senior partner Alastair Dickson and managing partner Bruce Minto.
Private equity has been the driving force behind the London office’s performance since the firm was set up, although the focus has moved more towards restructuring since the beginning of the financial crisis.
The Edinburgh office, which traditionally focused on bank lending work, was hit hard by the crisis in the banking sector, but continued to undertake investment trust work.
UK 200 RESULTS 2009
Movement since 2008
Turnover (£M):
Profit per equity partner (£K):
Earnings per partner (£K):
Equity spread (£K):
Net profit (£M):
Profit margin (%):
Revenue per fee-earner (£K):
Revenue per lawyer (£K):
Revenue per partner (£K):
Revenue per equity partner (£K):
Total number of fee-earners:
Total number of qualified lawyers:
Total number of partners:
Total number of equity partners:
Total number of female partners:
Total number of female equity partners:
Total number of staff:
Leverage ratio (fee-earners per equity partner):
DOWN
28.0
731
700.0
200 - 900
11.7
42
267
431
1,647
1,750
105
65
17
16
1
1
175
3.06
Dickson Minto had a tricky year in 2007-08 thanks to the near death of the private equity sector, the mainstay of the firm’s London fee generation.
At the end of the financial year the firm’s turnover and net profit figures had both fallen on the previous year, with the former dropping from £35m to £28m and the latter from £18m to £11.7m.
Average profit per equity partner (PEP) also fell below the £1m mark for the first time in several years, coming in at just above £700,000.
The firm does not operate a lockstep remuneration system. Compensation is decided by a three-strong team including senior partner Alastair Dickson and managing partner Bruce Minto.
Private equity has been the driving force behind the London office’s performance since the firm was set up, although London partners have been handling more restructuring work in recent months, something on which it built its reputation in the 1980s.
The Edinburgh office, which traditionally focused on bank lending work, was hit hard by the crisis in the banking sector, but continued to undertake investment trust work.
Dickson Minto entered into a non-exclusive alliance with US firm Willkie Farr & Gallagher at the end of the 2007-08 financial year, aimed at upping its profile across Europe.
The two firms have worked closely together in the past and a strong link has been forged between Dickson Minto in London and Willkie Farr in Paris.
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Dickson Minto
Turnover (£m): 34.7Average PEP: 1,390Equity spread (£k): 630-1,500Profit margin (%): 52RPL (£k): 310
