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.
Addleshaw Goddard has no partners at the top of the partnership's equity ladder, The Lawyer can reveal.
The 171-partner firm, of which 110 partners are in the equity, paid its highest-earning partners £679,250 for the last financial year.
The maximum payable under the firm's modified lockstep system would have been £783,750. The difference is £104,500 more than the firm's current highest-paid partners received.
Addleshaws managing partner Mark Jones said: "There's always room for improvement. There's no entitlement for partners to move up the equity scale at that range. It's entirely performance-related [and] they have to earn it."
The firm's partner remuneration system is based on a modified lockstep with a point range of 50-150 for equity partners. For the 2004-05 financial year each point was valued at £5,225.
Addleshaws paid out some £61.5m to all partners in remuneration in the financial year out of its turnover of £161.2m. It achieved a net profit of £51.8m and a profit per equity partner of £472,000.
The tightly held equity has helped Addleshaws build up a war chest, understood to be worth some £20m. The firm is budgeting for a major London relocation, with Jones aiming to have all his partners under the one roof in London by 2009.
Addleshaws recently exited its small Cannon Street offices and took a representative space in Noble Street, while the bulk of its London staff remain at Aldersgate.