The Lawyer Asia Pacific 150 is the only research report to provide a ranking of the top 100 independent local firms and top 50 global firms in the region. The report offers critical review of some of the fastest growing firms and their strategies, a country-by-country guide to leading legal advisers and legal services market trends, plus exclusive insight into the current business development opportunities in the Asia Pacific. Read more
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.
The Law Society reported a £6.4m loss for 2004 last week, as the solicitors' body published its annual accounts.
The society's income from practising certificate fees, investments and other sources totalled £86.6m, up nearly £11m from 2003. But expenditure, as first revealed on www.thelawyer.com (11 May), rose by a massive 24.5 per cent, from £74.7m to £93m, in 2004.
Expenditure accounting for the rise included a £6.3m increase in wages for Law Society staff, an extra £2.1m in legal fees and £404,000 spent on the Legal Services Complaints Commission. Depreciation in equipment, furniture and hardware accounted for a further £6.4m, up from £2m in 2003.
Office holder, council and committee expenses combined to cost the society £1.6m, up slightly from £1.5m in 2003.
The accounts also reveal the salaries of the society's office holders and chief executive. The Law Society president's salary went up by £4,680 between 2003 and 2004 to £89,284. But the highest paid member of the society's senior management team is chief executive Janet Paraskeva, who was paid a total of £297,000 in 2004, including a £28,000 bonus and £72,000 in pensions contributions.
The shortfall in the society's pension scheme has increased from £29m at the end of 2003 to £32.5m, based on the existing investment strategy adopted by the Law Society trustees. According to a report produced for the 11 May council meeting, the increase is "primarily due to a fall in gilt yields, which are used to place a value on the scheme's liabilities".