Milbank Tweed Hadley & McCloy – UK 100

UK/global turnover: £21m/£244m

UK/global PEP: £764,000/£1.1m

UK/global revenue per lawyer: £553,000/£539,000

UK revenue per partner/equity partner: £1.9m/£1.9m

Global revenue per equity partner: £2.4m

UK/global number of partners: 11/103

UK/global number of lawyers: 38/453

UK number of staff: 24

UK/global leverage ratio: 1:2.4/1:3.3

UK equity partner to staff ratio: 1:2.1

Equity structure: Modified lockstep. Range stretches from seven to ten years. Fewer than 20 per cent of partners are on pure merit above the plateau.

Billable hours targets: None set.

Billing currency: Majority sterling and euro, some dollar.

Cost of living details: In 2003, three lawyers on secondment from the US. The firm provides an allowance in line with the current market.

UK-based lawyer remuneration: US partners and associates are paid in dollars. UK partners and associates are paid in sterling. A hedging system is under consideration at the moment.