Russell-Cooke
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
22.5
173.7
173.72
75-400
7.8
35
155.7
211.3
501.1
501.1
145
107
45
45
15
15
260
1.37
According to senior partner John Gould, Russell-Cooke has made the most of the downturn. The London firm has hired partners from Campbell Hooper, Clarke Willmott and Macfarlanes as the recession wiped some of the gloss off some of its rivals.
The firm posted a turnover of £22.5m, slightly up on 2008-09’s £22.2m, but still down on the £23.8m it posted the year before. Net profit last year was £7.8m and average profit per equity partner was £174,000.
Russell-Cooke’s 45-strong partnership is all-equity, one third of it female. Partners’ remuneration is set on the basis of an annual scheme under which partners plan and propose their own remuneration. These individual business plans, which are approved or rejected by a remuneration committee, give the firm the flexibility to accommodate areas where profitability is lower or higher.
This has meant that, although areas such as commercial property were hit hard by the downturn, the firmwide impact of this was lessened. As such the firm made no fee-earner redundancies last year.
This year Russell-Cooke aims to boost its private client practice via recruits in a bid to compete with Central London practices. Its charity practice, previously a good earner for Russell-Cooke, is expected to take a hit as the Government cuts spending.
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
22.2
157
156.8
75 - 375
6.9
31
152
209
505
505
146
106
44
44
16
16
270
1.41
Turnover at London-based Russell-Cooke dropped slightly during the 2008-09 financial year, from £23.8m to £22.2m. The reduction in revenue saw the firm slip four places in The Lawyer’s top 200.
Average profit per equity partner also fell at the property-focused all-equity firm, from £192,000 to £157,000, while net profit dropped from £7.9m to £6.9m.
Russell-Cooke is also known for regulatory matters, family, criminal and clinical negligence.
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