Isle of Man firm Cains beat its targets last year, with turnover up seven per cent on budget and profitability rising by four per cent year on year. The firm has a 30 June year-end. Managing director Andrew Corlett adds that Cains is carrying no debt.

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Manx firm Cains saw an addition of one partner last year when it promoted corporate lawyer Steven Quayle to divisional director, but its lawyer and total headcount dropped by one. The firm also hired former Appleby partner John Rimmer as a consultant for its trusts team.

Cains' emphasis on having a large number of directors and divisional directors – equivalent to equity partners and salaried partners, although the firm does not disclose its equity split – means that it continues to have the lowest partner-to-associate ratio in the Top 30 of just 0.4 associates to every partner.


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