Time is the enemy

A couple of weeks ago, The Lawyer reported on the fine figures emerging from Dechert's London office. In its first full financial year following its transatlantic merger in July 2000, the London office recorded a turnover of £45.5m, with total firmwide income at £238m.
Reading on, though, Tulkinghorn discovered the real reason for its success: The Lawyer revealed that Dechert's business plan for its current financial year includes increasing the chargeable hours target for associates from a meagre 13,500 to 15,000 for the year, equating to a not insubstantial 45 hours a day. What a shock those poor associates must have had. Well, Tulkinghorn is here to put your minds at rest. Do not fear – the target is, of course, 1,500 chargeable hours a year. Far more respectable.