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14 January 2005
17 January 2005
14 January 2005
Profit per equity partner: £280,000
Equity spread: £115,000-£475,000
Net profit: £12.9m
Profit margin: 25 per cent
Salaried partner remuneration: £115,000-£165,000
Revenue per lawyer: £282,000
Revenue per partner: £647,000
Revenue per equity partner: £1,139,000
Cost per lawyer: £212,000
Profit per lawyer: £69,000
No of partners: 81
No of equity partners: 46
No of female partners: 22
No of female equity partners: 12
Total no of fee-earners (including consultants, paralegals etc): 222
Total no of fee-earners (excluding consultants, paralegals etc): 186
Total no of staff: 451
Leverage ratio: 1:2.28
Equity partner to staff ratio: 1:4.98
Fee-earner to staff ratio: 1:1.03
Financial management: Lockup target 136 days, achieved 147, (average WIP 32 days, average debtor days 115). Average partners' capital contributions are £95,700.
Equity structure: Modified lockstep. Eight categories of equity partner and four branches of profit-share calculation.
Billable hours targets: 1,400 assistants, 1,300 partners.
Key clients: Ashcombe Estate, Barclays, Daliah, Donna and Ramon Sherrington, Rocco Forte Hotels.
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