Wedlake Bell – UK 100

Turnover: £16.6m

Profit per equity partner: £250,000

Equity spread: £190,000-£270,000

Net profit: £4.5m

Profit margin: 27 per cent

Salaried partner remuneration: £90,000-£120,000

Revenue per lawyer: £255,000

Revenue per partner: £474,000

Revenue per equity partner: £922,000

Cost per lawyer: £186,000

Profit per lawyer: £69,000

No of partners: 35

No of equity partners: 18

No of female partners: Nine

No of female equity partners: Two

Total no of fee-earners (including consultants, paralegals etc): 86

Total no of fee-earners (excluding consultants, paralegals etc): 65

Total no of staff: 158

Leverage ratio: 1:1.67

Equity partner to staff ratio: 1:4

Fee-earner to staff ratio: 1:0.84

Financial management: Lockup target is 90 days, achieved 157 (average WIP 53 days, average debtor days 104). Practice profile by revenue is corporate 16 per cent, finance 5, litigation 15, property 28, employment including pensions and share schemes 13, others including intellectual property, commercial and private client 23. The firm’s average fixed capital contribution for equity partners is £110,000.

Equity structure: Wedlake Bell operates a merit-based system. Senior equity profits are distributed by a compensation committee ‘slate’ system. Each partner is awarded a number of points according to their performance. The remainder are on a fixed share. There are 20 senior equity partners and 15 fixed share partners.

Billable hours targets: 1,100 partners.

Key clients: Ashtenne Holdings, Crown Dilmun, DHL, Fortis Bank, Henderson Investors, Rugby Estates, Seymour Pierce, Tesco, Thurleigh Estates, Victoria & Albert Museum.