Reed Smith – UK 100

UK/global turnover: £17.2m/£269m

UK/global PEP: £381,000/£341,000

UK/global revenue per lawyer: £239,000/£303,000

UK revenue per partner/equity partner: £500,000/£1.2m

Global revenue per equity partner: £1.3m

UK/global number of partners: 14(33)/ 212

UK/global number of lawyers: 72/887

UK number of staff: 116

UK/global leverage ratio: ?1:4.1/1:3.1

UK equity partner to staff ratio: 1:8.2

Equity structure: Merit-based. Partners assessed on medium-term performance, the firm also sets aside five per cent of profits for bonuses.

Billable hours targets: Paralegals 1,200, associates 1,500, partners 1,400.

Billing currency: Sterling.

Cost of living details: In 2003, one US lawyer on secondment and one US corporate partner who spent one week a month in the UK. An allowance is provided when the cost of living in the UK is higher than the US.

UK-based lawyer remuneration: All lawyers are paid in sterling.