| Turnover | £52.1m | | Profit per equity partner | £390,000 | | Equity spread | £185,000-£609,000 | | Net profit | £15.6m | | Profit margin | 30 per cent | | Revenue per lawyer | £248,000 | | Revenue per partner | £668,000 | | Revenue per equity partner | £1,303,000 | | Total no of fee-earners | 270 | | Total no of assistants | 132 | | No of partners | 78 | | No of equity partners | 40 | | Total no of female partners | 14 | | Total no of female equity partners | 5 | | Total no of staff | 535 | | Leverage ratio (equity partners/fee-earners) | 3.3 | | Representative clients | Accenture
BP
The Home Office
Investec Investment
Merrill Lynch
Petronas | |
Field Fisher Waterhouse (FFW) boosted average
profit by 19 per cent last year, from £325,000 to
£390,000, following a comprehensive strategy overhaul.
The FFW partnership approved a new strategy
in November 2004, which set an ambitious
target of a 50 per cent rise in turnover over the next
three years, from £47m last year to £75m by 2007.
During the first year of the new plan, turnover
increased 10.9 per cent, from £47m to £52.1m. So
it will need a sustained push to reach its target.
The firm also overhauled its management board.
This is no longer elected freely from the partnership,
but is now populated by department heads,
who are elected separately, and the firm's managing
partner. Real estate head Moira Gilmour, seen
as the saviour of the previously underperforming
property department, will take over from current
managing partner Colin McArthur in April 2006.
In addition to its traditional strength in IP/IT
and the resurgent real estate team, corporate is
going great guns on the back of the booming AIM.
FFW has also developed a strong presence in the
public sector. The regulatory practice, which
includes public sector, has moved from an overdependancy
on the General Medical Council into a
group that supplies 10 per cent of total revenues.
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