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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.
Taylor Wessing’s top-earning UK partner raked in more than £703,000 in 2010-11, 20 per cent more than the highest paid partner got in 2009-10.
According to the firm’s UK LLP accounts, the highest remuneration received by a partner was £703,033, up from £585,744 in 2009-10. Average profit per equity partner (PEP) in the UK business in 2010-11 was £537,000.
Revenue at the UK LLP was £91.2m. That represents a rise of 8 per cent on 2009-10, when turnover was £84.4m. Operating profit also grew, from £29.4m in 2009-10 to £32.6m.
The firm also paid down in full a £5m loan facility that related to its 2009 London office move, months earlier than was expected. As a result, the firm’s net deficit went down from £6.6m to £2.5m.
The total number of staff at the firm in 2010-11 was marginally higher than in 2009-10, up from 476 to 485, as a result of increases in the number of non-fee earning professionals and support staff. The average number of partners across the business during the year dropped, from 101 to 99.
Global turnover at the firm was up 8 per cent, to £192.3m from £177.9m, while PEP was £402,000.