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.
Norton Rose experienced a net cash outflow of £17.5m for the 2009-10 financial year, compared with an inflow of £2.4m in 2008-09, according to LLP accounts filed with Companies House.
The outflow came on the back of a 19.6 per cent fall in profit from operating activities from £89.5m in 2008-09 to £72m in 2009-10. The total operating profit fell less sharply, from £80.6m to £77.6m.
The accounts further reveal that the City firm made a saving of £5m in staff costs, largely on the back of the Flex scheme introduced in a bid to stave off the threat of redundancies. Staff headcount dropped slightly during this period, from 2,059 to 2,012.
The firm’s highest paid partner took home £888,780 in 2009-10, a 20 per cent increase on the £739,416 that went to the top earner in 2008-09. This was despite a 6 per cent drop in profit per equity partner (PEP), with the average partner being remunerated to the tune of £486,000.
Revenue at Norton Rose also dipped slightly, with turnover at £314m, down from £322m in 2008-09.