UK/global turnover: |
£100.4m/£865.3m |
UK/global PEP: |
£526,000/£521,000 |
UK/global revenue per lawyer: |
£365,000/£270,000 |
UK revenue per partner/equity partner: |
£1.3m/£1.6m |
Global revenue per equity partner: |
£1.3m |
UK/global number of equity partners: |
62/657 |
UK/global number of partners: |
80/1,167 |
| UK/global number of lawyers: |
275/3,209 |
| UK number of staff: |
725 |
| UK/global leverage ratio: |
3.4/3.9 |
BAKER & MCKENZIE’S London presence, which remains the firm’s largest, achieved double-digit growth in average profit per equity partner (PEP) to reach £526,000, while its turnover rose by 9 per cent to break the £100m mark.
As the firm runs a July-June financial year, its official global results will not be released until the annual partnership meeting in October. But early indications, used to calculate the global figures for the purposes of this table, are that the global results will be slightly ahead of the UK’s.
London’s success was largely the result of a solid second half, driven partly by a heavy recruitment drive that included the hire of a four-partner structured finance team from Norton Rose.
Bakers operates a modified lockstep, with 70 per cent of profit allocated according to a seven-year ladder, which runs from 50 to 100 points, and 30 per cent distributed by a three-partner elected remuneration committee based on merit.
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