Mayer Brown targets £1m PEP in the City
Mayer Brown Rowe & Maw has finalised a new strategy for its London office intended to bump its profits per partner (PEP) to between £800,000 and £1m within the next three years.The transatlantic firm's London PEP currently stands at around £650,000 - behind many of its UK rivals but ahead of the firm-wide average of $1m (£543,000).
March 22, 2007 at 01:00 AM
2 minute read
Mayer Brown Rowe & Maw has finalised a new strategy for its London office intended to bump its profits per partner (PEP) to between £800,000 and £1m within the next three years.
The transatlantic firm's London PEP currently stands at around £650,000 – behind many of its UK rivals but ahead of the firm-wide average of $1m (£543,000).
The firm approved the three-year vision for its City base around six weeks ago and is now in the process of drawing up detailed plans for all of its offices.
UK senior partner Paul Maher, one of three partners jointly chairing the firm globally, said that the firm is aiming to become one of the top eight firms in London rated by PEP.
The strategy push commits the firm to heavy investment in its corporate and finance practices over the next three years that includes a move into hedge funds work and the expansion of its private equity capacity. Finance meanwhile has been earmarked for substantial growth as the office moves towards doubling its London turnover, which currently stands at £96m.
The office also plans to increase its leverage to aid the changes.
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