The firm’s average profit per equity partner (PEP) also moved upwards, breaking the £400,000 barrier for the first time. While this figure is clearly small fry when compared against the likes of Clifford Chance, which broke £1m in the past financial year, Taylor Wessing managing partner Michael Frawley is understandably cheered by the rises.
And so he should be, as a glance at The Lawyer’s Top of the PEPs table shows that the firm is sitting comfortably within the top half of the chart.
True to his profession, though, Frawley’s outlook on the sustainability of the situation is pessimistic.
Who said lawyers were a conservative bunch?