LG

Turnover (£m): 59
Average PEP: 412
Equity spread (£k): 206-693
Profit margin (%): 26
RPL (£k) : 317

While LG’s turnover increased significantly between 2008-09 and 2009-10, the picture was not so rosy last year, when total ­revenue dipped to £59m. Average profit per equity partner, which came in at £412,000, was also down from £460,000 in 2009-10. The equity partner headcount, meanwhile, decreased from 41 to 37.

In a bid to increase its numbers, managing partner Hugh Maule said the firm was ­planning to focus on its strongest sectors: real estate, financial institutions, energy
and natural resources and hospitality and leisure. LG will also develop its work in key jurisdictions, including India, Singapore (where a new office is a possibility) and the US, with the latter representing 5 per cent of the firm’s revenue last year. In total approximately 40 per cent of LG’s revenue came from international work, which includes ­offices in Dubai, Monaco and Moscow.

Last year the London firm also expanded the Brazilian-related work it was handling with a team advising the country’s government on an ongoing case concerning claims brought against British Virgin Islands-­registered companies ­allegedly owned by Paulo Maluf, the former mayor of São Paulo.

LG operates a modified lockstep system with nine classifications in total. The bottom three of the nine are traditional lockstep; thereafter the system is entirely merit-based.

The firm’s clients include Axa UK and the bank panels of both Nationwide Building Society and Santander.