Walker Morris – UK 100

Turnover: £39.5m

Profit per equity partner: £520,000

Equity spread: £157,000-£550,000

Net profit: £14m

Profit margin: 35 per cent

Salaried partner remuneration: None

Revenue per lawyer: £260,000

Revenue per partner: £940,000

Revenue per equity partner: £1,463,000

Cost per lawyer: £168,000

Profit per lawyer: £92,000

No of partners: 42

No of equity partners: 27

No of female partners: Six

No of female equity partners: Two

Total no of fee-earners (including consultants, paralegals etc): 405

Total no of fee-earners (excluding consultants, paralegals etc): 152

Total no of staff: 740

Leverage ratio: 1:4.07

Equity partner to staff ratio: 1:12.41

Fee-earner to staff ratio: 1:0.83

Financial management: Partners’ capital contributions £24,000. No lockup target.

Equity structure: Modified lockstep, with 15 of the 27 equity partners at the top of the equity. There is an additional 15 salaried partners.

Billable hours targets: The firm does not have, and has never had, billable hours targets. Instead, approximate guidelines based on fees are given to each lawyer at the beginning of the year.

Key clients: Caterpillar, Cattles, Debenhams, HBOS, Homestyle Group, National Australia Bank, Persimmon, Royal Bank of Scotland, Standard Life.