Norton Rose boosts PEP to £500k despite investments

Norton Rose has seen its average profit per equity partner (PEP) break the half-a-million mark for the first time.

The top firm has seen a 15 per cent profit, which has led PEP to reach £512,000. Its turnover has also grown by 11 per cent on last year to £230m.

The firm has boosted PEP despite considerable investment worldwide with nine new offices and an out of London data recovery centre this year.

Norton Rose chief executive Peter Martyr said that these were pleasing results considering the amount of investment the firm has been making in the last year.

“I’m pleased this year, as we have seen reasonable growth considering our growing investments, with nine new offices and the London move which is two-thirds of the way through,” Martyr, told The Lawyer.

He added that there has been much investment in “people” over the last year too, with the firm promoting 22 internally and making 19 lateral hires.

Martyr added: “With these people-added costs it has been a pleasing year and we expect the investment to show through again in next year’s figures.”