Keoghs – UK 100

Turnover: £15.3m

Profit per equity partner: £114,000

Equity spread: £90,000-£143,000

Net profit: £1.1m

Profit margin: 7 per cent

Salaried partner remuneration: £57,000

Revenue per lawyer: £176,000

Revenue per partner: £546,000

Revenue per equity partner: £1,391,000

Cost per lawyer: £163,000

Profit per lawyer: £13,000

No of partners: 28

No of equity partners: 11

No of female partners: Five

No of female equity partners: One

Total no of fee-earners (including consultants, paralegals etc): 225

Total no of fee-earners (excluding consultants, paralegals etc): 87

Total no of staff: 365

Leverage ratio: 1:5.36

Equity partner to staff ratio: 1:12.73

Fee-earner to staff ratio: 1:0.62

Financial management: Lockup target 170 days, achieved 172 (average WIP 125 days, average debtor days 47). Average capital contributions per equity partner £175,000.

Equity structure: Merit-based, with one partner at the top of lockstep last year. Three levels of equity. At the end of each year each partner prepares a portfolio of their achievements, which is considered by a remuneration committee of three partners. The committee makes recommendations and then the entire partnership votes on remuneration. There is the capacity for new equity partners to go straight in on the mid-tier, should this be deserved.

Billable hours targets: Assistants 1,350.

Key clients: Axa, Norwich Union, Royal Bank of Scotland Insurance, Zurich.