The Lawyer Global Litigation Top 50 report is the only ranking of international law firms by litigation and arbitration revenue and is essential reading for anyone seeking to benchmark their litigation and dispute resolution practices...
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.
Turnover: £289.2m Profit per equity partner: £647K Earnings per partner: £488K Equity spread: £325K-£1,150K Net profit: £93m Profit margin: 32 per cent Revenue per fee-earner: £254K Revenue per lawyer: £315K Revenue per partner: £1,280K Revenue per equity partner: £2.01m Total number of fee-earners: 1,140 Total number of qualified partners: 918 Total number of partners: 226 Total number of equity partners: 144 Total number of female partners: 32 Total number of female equity partners: 12 Total number of staff: 1,991 Leverage ratio (equity partners/fee-earners): 1:5.4
LATERALS 2006: Finance 4, corporate 3, energy 1, environment 1, dispute resolution 1 2005: Finance 5, corporate 4, IP 1, environment 1 2004: Finance 2, corporate 3, real estate 1, IP 1
Intake as percentage of partnership: 11.1 New female partners as percentage of intake: 16 Firms recruited from:Allen & Overy, Clifford Chance, Debevoise & Plimpton, Denton Wilde Sapte, Herbert Smith, Norton Rose, Shearman & Sterling Equity structure: 145 equity partners, 81 non-equity Practice area(s) most heavily promoted: Financial markets, corporate *Figures supplied relate to the calendar year
Promotions at Simmons & Simmons had an international flavour in 2006-07, with London accounting for less than a third of new partners. There was more emphasis on London for lateral hires, with corporate/commercial doing particularly well. Simmons had no qualms in taking senior associates from magic circle and US firms and making them partners on arrival.
Departure-wise, Simmons was particularly hard hit in 2006 in Hong Kong and mainland China, where it suffered an eight-partner defection. The firm has promised to rebuild, though, so expect to see partner hires there in 2007-08, particularly within corporate. Simmons is using both carrot and stick to retain talent. It has introduced skills development frameworks and time-off-in-lieu schemes for hardworking lawyers. But underperforming partners are not tolerated and de-equitisation remains a ‘tool’.