Turnover: £421.8m Profit per equity partner: £1,036K Earnings per partner: £778K Equity spread: £538K-£1,250K Net profit: £147.2m Profit margin: 35 per cent Revenue per fee-earner: £319K Revenue per lawyer: £431K Revenue per partner: £1,842K Revenue per equity partner: £2.97m Total number of fee-earners: 1,324 Total number of qualified partners: 979 Total number of partners: 229 Total number of equity partners: 142 Total number of female partners: 31 Total number of female equity partners: 15 Total number of staff: 2,235 Leverage ratio (equity partners/fee-earners): 1:5.9
Intake as percentage of partnership: 7.2 New female partners as percentage of intake: 18.8 Firms recruited from: Denton Wilde Sapte, Lovells, Norton Rose, Siam Premier Equity structure: 146 equity partners, 75 non-equity Practice area(s) most heavily promoted: Corporate, real estate *Figures supplied relate to the calendar year
Herbert Smith has appointed 47 partners in the past three years, 32 of whom were internal promotions and 15 lateral hires. Only five were women. Corporate in London has continued to do well, scooping eight of the firm’s internal appointments since 2004-05. The City’s real estate group also boasts a good track record for promotions, with three awarded in 2006-07. Notably, litigation/arbitration and finance have not kept pace with either real estate or corporate, receiving only two and three promotions respectively in the past two years. However, the London finance group has led the lateral hires with four in the past two years, followed by litigation and arbitration with three. IP/IT, meanwhile, has not seen any partnership appointments since 2003-04, when there was one internal promotion in London and one lateral hire in Paris. Hong Kong was the only other office to receive an internal appointment in 2006-07, while Tokyo and Paris received one apiece the previous year.