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Exeter-headquartered Michelmores is to pay all lawyers and staff a bonus equivalent to 3 per cent of their individual salaries after posting a 5 per cent rise in turnover to £19.2m.
The firm’s fixed-share and equity partners will receive a separate bonus. The firm has yet to release profit figures.
The news comes as the firm unveils a new management board line-up with the appointment of former Arcadia Group financial director Nigel Hall and addition of HR director Colette Stevens as non-executive directors. Hall is also a non-executive director of C&J Clark and chairman of the board of Countrywide Farmers.
Michelmores managing partner Malcolm Dickinson said: “They’ll give us an outside perspective and allow some challenges to the strategy. It’s very important to be able to deal with the changes going on in the profession.”
It has been a year of investment for Michelmores, which has added eight partners over the last year, including Andrew Oldland QC, who joined the firm in January from Walnut House in Exeter.
In addition, the firm has moved to larger offices in London’s Chancery Lane and added partner Paul Paling and senior associate Dennis Lee to the office (15 March 2012).
“Over the past 12 months we’ve taken on more than 60 new members of staff, and eight new partners,” Dickinson said.