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This year, The Lawyer’s annual ranking of the largest UK law firms by turnover is available as an interactive, digital benchmarking tool. For the first time this will allow you to manipulate each data set against the metrics of your choice.
Linklaters has completed a review of its German partnership with a total of 19 partners set to be de-equitised, moved down the lockstep or managed out of the partnership.
German publication JuVe reported today (22 July) that 10 partners will be frozen at their current positions on the lockstep, five will become of-counsel and a further four partners are set to leave.
JuVe reports that employment was Germany’s most profitable practice in 2003-04, with partners bringing in £51,000 per equity point compared to litigation and real estate notching up £26,000 and £13,000 per unit respectively.
As part of the review German partners will also have to increase their billing targets from seven hours a day to 10, of which a minimum of 80% should result in chargeable time.