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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.
Simmons & Simmons has revamped its partner remuneration system to take into account the firm’s new international practice groups.
On 1 May the firm transformed its internal structure by dividing staff into 10 global practice areas.
Partners will now be rewarded for the performances of national and international practice groups rather than by the performances of their country bases.
Simmons operates a modified lockstep, with 20 per cent of pay coming from an appraisal based on personal and team performance.
Managing partner Mark Dawkins said: “In terms of country versus international performance, that has totally switched. The country performance will become irrelevant, whereas in the past it had tended to dominate.”
The ;10 ;international practice groups are: IP, tax, corporate, disputes, financial services, real estate, projects, technology, competition and employment.
The group heads report to Dawkins and are responsible for business development, profits and loss and training within their teams.
Four of Simmons’ overseas offices have yet to join the global structure. Dawkins said Madrid is being given time to adapt to last year’s merger with Mochales & Palacios Abogados, while Düsseldorf, Frankfurt and Moscow are expected to make the transition by the end of the year.