Herbert Smith sees PEP return to 2006-07 levels as turnover nudges up

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  • Wow. PEP down almost 20% from when David Gold was at the helm. Bring back the Gold Standard!

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  • Scotty did you even read the article? profits are down 7% not 6%

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  • Kudos to the partners of Herbert Smith! This shows a real sense of social responsibility with the Herbert Smith partners taking a 7% pay cut and sharing some of the pain with all of the associates and support staff who have been made redundent. Partners at lesser firms would never be so willing to take this kind of pay cut. Good for you noble Herbies!

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  • How long before they drop out of the silver circle?

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  • This ridiculous castigation of a firm at the top of the Bronze Medallion group is pathetic.
    Grow up. All of you.

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  • To the first comment at 12:27 pm. I think is rather the other way around. Same profit divided into less equity partners gives a higher PEP.

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  • Some of the commentary here is a bit hysterical. Herbert Smith is still one of the finest litigation shops in the world, with an excellent corporate and finance practice. The fact that its got the results it has, with such a poor deal environment (which effects everyone) shows the strength of its disputes group. Everyone needs to settle down and stop making irresponsible comments.

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  • Hysterical. But true nonetheless.

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  • The first post at 12:27 am is correct. If half of the firm partnership is non-equity then the real "profit per partner" is roughly half of their reported PEP - which is "profit per equity partner". One half of their reported profit per equity partner of £840,000 equals a profit per partner of £420,000. Firms use non-equity partners to hide the real profitability of the partnership as a whole.

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  • For goodness sake you are all obsessed with profit and PEP levels. Are you capitalist robots? What happened to your real interests before you sacrificed them for the tedium of commercial law?

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