Debevoise & Plimpton – UK 100

UK/global turnover: £16.5m/£249m

UK/global PEP: £475,000/£768,000

UK/global revenue per lawyer: £317,000/£434,000

UK revenue per partner/equity partner: £1.4m/£1.4m

Global revenue per equity partner: £2.1m

UK/global number of partners: 12/119

UK/global number of lawyers: 52/537

UK number of staff: 64

UK/global leverage ratio: 1:3.3/1:3.5

UK equity partner to staff ratio: 1:5.3

Equity structure: Pure lockstep, taking 15 years to reach plateau.

Billable hours targets: None set.

Billing currency: Majority dollar with some sterling. This year, percentage of billings in sterling and euro is increasing.

Cost of living details: In 2003, there were two US partners and five US associates on secondment in UK. Housing and cost of living allowances are provided, adjusted each month and calculated on an individual basis.

UK-based lawyer remuneration: Partners are paid in dollars. US and UK associates are paid in dollars, which are then converted into sterling at a dollar rate. In 2004, the firm put in place a hedging mechanism for the first time, with the rate set in January and reviewed in July.