Camerons fees exceed expectations

CMS Cameron McKenna has more than doubled its predicted growth as turnover rose by 19 per cent last year.

Managing partner Dick Tyler said that the firm had budgeted for a 9 per cent increase but gross fees rose to £162m from £136m.
The firm had a buoyant year across all practice groups and the international network CMS.
Tyler said that the corporate department performed particularly well. In early June it handled Nomura International's £1.9bn acquisition of Meridien Hotels (The Lawyer, 6 June), in a cross-border transaction involving all CMS firms.
Average profits per partner rose 24 per cent from £340,000 to £421,000.
Equity partners enjoyed significant pay rises with top of equity tipping £510,000, a 25 per cent increase on their £400,000 gross earnings the year before. The most junior equity partners made £250,000 compared with £175,000 in 1999/2000.