Over at Berwin Leighton Paisner, the drinks are on… well, someone.
Today we reveal that one jammy partner received a whopping £1.6m in compensation from the firm during the hardly halcyon days of 2009-10 (see story). That’s £600,000 more than BLP plateau partners took home during 2008-09, the period from which this profit share derives.
Okay, it’s not in the Bob Diamond league of rotund feline pay packets, but we’re pretty sure that many a lawyer at BLP will be more than happy to let their colleague Mr Billy Big Potatoes stick the Veuve on his plastic later.
They shouldn’t be too covetous of Big Billy, though. BLP abandoned its pure lockstep a long time ago, so you could say that the news is designed to act as an impetus for its less well-compensated partners to pull up their stockings.
Frankly, if they don’t they might have to face up to the prospect of pocketing the paltry £208,000 BLP posted as bottom of equity last year.
Even poor old Stephen Hester wouldn’t get out of bed for those peanuts.