The Lawyer UK 200 preview: City: Silver circle weathers the storm

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  • Interesting the way the Berwins' have mirrored each other. And can firms like Macfarlanes really rely on their margin as proof they're stellar firm's when their falling turnovers show that their losing market share?

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  • @ Marx - Firms like Macfarlanes and Travers Smith have been found out over the last few years. They are now massively sub-scale and even their PEPs are now being caught up and overtaken by firms which their partners used to delight at sneering at.
    They are paying the price of complacency, greed (taking the highest possible PEP instead of investing in growth) and strategic incoherence over a long period.

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  • Many of the firms in this category were the worst over recent years in terms of staff treatment, formal redundancies and stealth redundancies.
    The full impact of that on morale, and on damaged reputation in the City, will be felt in coming years but in the short term has helped to inflate the PEP figures shown above.

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  • "falling turnovers"? Macfarlanes has just posted both an increase in PEP and turnover. Check facts prior to posting. Secondly, a lesson in grammar: "as proof they're stellar firmS" not "firm's"; "they're losing market share" not "their losing market share".

    @ 1:00pm.

    Tell me which firms are catching up with Macfarlanes and Travers Smith PEP wise? Then show me the percentage of equity partners.

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