Payne Hicks Beach
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
22
412
287.5
270-550
7
32
255.8
323.5
687.5
1,294.1
86
68
32
17
10
3
149
3
Payne Hicks Beach had a relatively flat year in 2009-10 after its 2008-09 performance had propelled it into the top 100 by turnover.
In the 2009-10 year turnover dipped marginally, down by 0.5 per cent, from £22.1m to £22m. Net profit fell by 3 per cent to £7m, giving Payne Hicks a 32 per cent profit margin. Average profit per equity partner was up by 3 per cent to £412,000.
Payne Hicks remunerates its partners on a modified lockstep basis. Those at the bottom of the equity took home £270,000 last year, while those at the top received £550,000. Non-equity partners, of whom there were 15, were paid on average £153,000.
The firm is best known for its private client and family work, with star partner Fiona Shackleton representing glamour model Katie Price on her divorce from Peter Andre in the past year, as well as acting for the husband in a divorce case that focused on the importance of prenuptial agreements, Radmacher v Grantino.
As well as private client and family, each of which generate around a third of total revenue, the firm also handles a range of commercial work focusing on corporate, disputes, employment and property.
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):
UP
22.1
400
310.0
250 - 500
7.2
33
287
368
737
1,228
77
60
30
18
9
3
138
2.33
Payne Hicks Beach’s other partners might not like it, but the firm’s undisputed star is divorce lawyer extraordinaire Fiona Shackleton.
Shackleton is understood to be on a separate remuneration deal to the rest of the partners at the private client-dominated firm. With high-profile and high-margin instructions from the likes of Madonna, Paul McCartney and Jordan under her belt, most would have a hard time arguing for parity.
Either way, Payne Hicks found itself launched into the top half of The Lawyer UK 200 after a successful 2008-09, which saw turnover rise 13 per cent from £19.6m to £22.1m.
Average profit per equity partner stood at £400,000, a net profit of £7.2m and a margin of 33 per cent to be split between its 18 equity partners (of 30 in total).
Revenue per lawyer (RPL) was particularly impressive. The firm, ranked 94th by turnover, was 22nd when ranked by RPL, which stood at £368,000 last year.
NEWS
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FEATURES
Moves - sponsored by JLegal.com
Payne Hicks Beach has brought in Robert Brodrick as a partner to strengthen the firm’s private client department.
