The Lawyer’s new China Elite report contains the most detailed research available on the PRC legal market and contains unparalleled insight into the country's leading law firms. They vary in size, practice focus and geographic coverage, but they all share one common quality – ambition... 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.
Total no of fee-earners (including consultants, paralegals etc): 125
Total no of fee-earners (excluding consultants, paralegals etc): 106
Total no of staff: 260
Leverage ratio: 1:2.04
Equity partner to staff ratio: 1:5
Fee-earner to staff ratio: 1:1.08
Financial management: The lockup target is 105 days (WIP 60, debtor days 45), achieved 118 at year-end (average WIP 25 days, average debtor days 93). The debtor days were particularly high last year due to a one-off billing matter, which has now been resolved. Partners' fixed capital contributions are £117,000.
Equity structure: The firm operates a modified lockstep with partners entering the equity on five points and gaining 1,000 shares a year, rising to 13 points. There is a bonus pot of 5.5 per cent of the firm's profit. The remuneration committee can adjust partners pay downwards by 15 per cent if they are not performing. Any more than that needs partner approval.
Billable hours targets: Assistants 1,500, partners 1,200 and 1,300.
Key clients: Blue Circle Industries, Dunbar Bank, Eurodis Electron, Henderson Global Investors, The Heron Group.