Music to their ears

There’s a party going on right here, a celebration that’ll last throughout the year.

No, we’re not talking about at The Guardian.

For ’here’, read rich kid Freshfields. The firm’s 2010-11 financial results, posted today (see story), show it is still leading the Magic Circle pack on that all-important and in no way manipulable measuring stick, average profit per equity partner (PEP).

PEP actually fell at Freshfields last year so the denizens of Fleet St (and we don’t mean News International executives) will have to struggle for a while on just £1.3m each. Poor loves.

Arch rival Linklaters PEP nudged up to £1.22m while, as we reported earlier this week, A&O (see story) and Clifford Chance’s (see story) PEP was £1.1m and £1.005m respectively.

That’s pretty cool, if you’re in the gang.


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