Linklaters Management Pay Leaps 17% As US Arm Outpaces UK
The firm's LLP accounts have also revealed that profits to share between partners grew by almost 20%.
November 04, 2019 at 09:14 AM
2 minute read
Linklaters' top management personnel received a total profit share of £25.3 million last year, while the U.S. arm of its business grew at nearly double the rate of its U.K. arm.
Profits available to share between partners during the most recent financial year hit £519.3 million, up nearly 20% on last year's figure of £437.7m.
The figures are stated within the Magic Circle firm's limited liability partnership (LLP) accounts, posted today.
The management pay figure is up more than 17% compared to the previous year. It was shared between the 14 members of the executive committee, which includes partnership board chair and senior partner Charlie Jacobs, managing partner Gideon Moore, corporate head Aedamar Comiskey, global chief operating officer Matt Peers and U.S. head Tom Shropshire.
The accounts break down the firm's revenue by jurisdiction, with its U.S. arm growing its revenue at almost double the rate of its U.K. counterparts.
Revenues across the Americas region grew by 11% from £92.6 million to £102.8 million, compared to a more modest 5.6% growth for the U.K. from £648 million to £684.4 million, making it the slowest-growing region globally.
The firm's Middle East arm's revenue increased at the fastest rate of 15%, to hit £18.1 million.
The number of partners at the firm dipped to 307 during the year from 310, while the number of lawyers increased to 2,549 – up 2.5% from 2487.
Staff costs grew from £786.2 million to £739 million during the year – an increase of 6.4%.
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