Simmons top earner for 2012-13 pocketed £800k, accounts reveal
Simmons & Simmons' highest earner took home around £800,000 during 2012-13, an 11% decrease on last year's top figure of £900,000. The figure is contained within the firm's latest financial report, recently filed with Companies House, which also shows the firm brought in operating profit of £68.6m, up on £53.4m.
December 11, 2013 at 10:01 AM
2 minute read
Simmons & Simmons' highest earner took home around £800,000 during 2012-13, an 11% decrease on last year's top figure of £900,000.
The figure is contained within the firm's latest financial report, recently filed with Companies House, which also shows the firm brought in operating profit of £68.6m, up on £53.4m.
The firm's overall turnover of £250.5m for the 2012-13 financial year is slightly above the unaudited year-end figure of £250.3m reported earlier this year, when profits per equity partner was also down by 0.6% to £525,000.
Profit available for division among the firm's members also grew, from £45.3m to £56.4m.
By practice, the corporate and commercial practice was the only group to report a dip in figures after accounting for £53.1m of total revenue brought in, down from last year's figure of £59.5m.
Dispute resolution contributed £81.9m, up from £79.4m in 2011-12. Simmons' financial markets practice continued to account for the lion's share of fee income after bringing in £95.1m, increasing from £94.7m, while the firm's employment practice posted revenues of £20.4m, up on £18m last year.
The overall total revenue of £250.5m marks a marginal decrease of 0.5% on 2011-12, when the firm logged £251.7m in total revenue.
Over 80% of firmwide revenue was derived from the firm's five sectors: asset management, energy and infrastructure, financial institutions, life sciences and technology, media and telecoms. The firm's sector-based approach was put in place in 2012.
Total employee headcount at the firm decreased slightly to 1,218, compared with 1,234 in 2011-12. Meanwhile the number of fixed equity members at the firm increased from 31 to 40, while the number of equity members was broadly flat after increasing by one member to 105.
The firm opened an office in Munich in March this year and a low-cost base in Bristol in autumn 2012.
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