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.