The Lawyer Africa Elite 2014 features an in-depth look at 46 leading independent firms’ strategies in 15 key sub-Saharan jurisdictions, as well as the views of in-house counsel from some of Africa’s largest companies... 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): 1,018
Total no of fee-earners (excluding consultants, paralegals etc): 723
Total no of staff: 1,901
Leverage ratio: 1:3.44
Equity partner to staff ratio: 1:5.93
Fee-earner to staff ratio: 1:0.87
Financial management: Average WIP across all departments is 25 days, average debtor days is 90, with no specific lockup targets.
Equity structure: The firm operates a modified lockstep plus merit. Twenty per cent of the firm's total profits are allocated using a merit-based system. From this year, this will increase to 30 per cent if the firm is more than 20 per cent off budget. This is allocated at one, three, six and ten points. There are thirteen categories of lockstep, only 11 of which were in use last year. Gateway at two to three years is appraised by the partnership committee. Gateway at five to six years appraised by remuneration committee, of which managing partner David Dickinson is now a member. Members are elected every two to three years. Ratio is around 1:3 between top and bottom.
Billable hours targets: Introduced 1 May 2004. Partners 1,500 hours, assistants 1,700 hours. Bonua at transition target of 1,600.
Key clients: China Telecom, Collins Stewart, Merrill Lynch, Railtrack, UBS.