Pay for Fieldfisher's top earner shoots up 70% to break £2m mark
Pay hike comes after the firm made double digit gains in profit for 2016-17
January 02, 2018 at 11:17 AM
2 minute read
The highest-paid partner at Fieldfisher took home £2.03m in 2016-17 – a 70% increase on the previous year.
The figure, revealed in the firm's latest limited liability accounts, is £837,000 up on the 2015-16 equivalent, when the firm's top earner received £1.19m.
Fieldfisher is currently enjoying a sustained period of growth, posting a 34% revenue rise for 2016-17 followed by a 20% hike for the first half of the 2017-18 financial year.
The LLP filing also shows that pay for "key management personnel" – the executive committee and supervisory board – jumped 20% from £9.75m in 2015-16 to £11.74m last year.
Staff numbers at the firm, including its verein members, rose 8% to 647, while staff costs grew by 18% to £42.5m. Operating profit rose 35% from £51.5m to £69.9m.
The firm's verein members include its Chinese offices in Beijing and Shanghai, established by a merger with 12-partner Beijing boutique JS Partners under a Swiss verein in November 2016.
They also include the firm's Amsterdam base set up by five partners recruited in February from local TMT specialist firm Kennedy Van der Laan and four Italian offices acquired through a merger with Italy's Studio Associato Servizi Professionali Integrati in July last year.
At the end of last year, the firm held off esteemed competition to claim the Law Firm of the Year award at Legal Week's British Legal Awards. The firm was recognised for several achievements, notably its recent international expansion drive, with 33% of its revenue now coming from outside of the UK. It also plans to open in Spain this year and has a goal to have a presence in all major European markets by 2019.
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