Mishcon de Reya's highest-paid partner received more than £2m last year, an increase of almost a quarter on the previous year, the firm's latest limited liability partnership (LLP) accounts have revealed.

The Companies House filing – Mishcon's second since its LLP conversion in October 2015 – show that the firm's best-paid partner took home £2.14m in 2016-17, up 24% on the previous year's top figure of £1.73m.

Management pay for the year was £12.9m, up 23% from the previous year's figure of £10.5m.

Staff costs rose 14% to £51.3m as the average number of employees increased 8% to 637. Average members rose from 91 to 103, while capital introduced by equity partners nearly halved compared to last year, from £5.33m to £2.93m.

The accounts also state that revenue for the LLP rose 15% to £149.9m as operating profit increased 27.7% to £57.6m. Last summer, the firm posted a 10% profit per equity partner increase to reach £1.1m

During the 2016-17 financial year, Mishcon reappointed managing partner Kevin Gold for another three-year term, after the firm's second ever election process. Gold has been managing partner at the firm since 1997.

The heads of the corporate and dispute resolution groups, Nick Davis and Kas Nouroozi respectively, were also re-elected to their roles. All three began their renewed three-year terms in April 2017.

The firm is pushing forward with its strategy plan – dubbed 'The 10-Year Vision' – which was launched at the beginning of 2016 and has seen the firm invest in new technology and cybersecurity systems.