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International Edition

Freshfields LLPs show pay for top earner fell almost 20% in 2009-10

Freshfields Bruckhaus Deringer's highest-earning partner took home nearly 20% less during 2009-10 than the previous financial year. The figure, revealed in the firm's limited liability partnership accounts recently filed with Companies House, shows the firm's top-earner took home £2.7m last year - just over 18% less than the equivalent £3.3m figure in 2008-09. The figure includes retirement payments as well as the standard profit share.
2 minute read

International Edition

Herbert Smith top-earner pay rises 8% as firm cuts back net debt

Herbert Smith's highest-earning partner took home £1.22m in 2009-10, an 8% increase on the previous year's top figure, according to the firm's limited liability partnership (LLP) accounts. The accounts, recently filed at Companies House, also show that the firm significantly reduced net debt over the financial year - down 41% to £24.4m from £41.5m in 2008-09.
2 minute read

International Edition

Eversheds LLP accounts highlight £21m reduction in staff costs

Eversheds' staff costs dropped by £21m during 2009-10 on the back of headcount reductions at the firm, according to its recently-filed limited liability partnership (LLP) accounts. During the last financial year the UK top 10 firm saw staff costs fall to £147m - a 12.5% drop on the previous year's figure of £168m, according to the filings with Companies House.
2 minute read

International Edition

Barlows forecasts £17m turnover hike in wake of Halliwells deal

Barlow Lyde & Gilbert has predicted a £17m increase in turnover following its acquisition of Halliwells' Manchester insurance arm last year. The firm's limited liability partnership (LLP) accounts, recently filed on Companies House, show that the firm expects to see revenues increase by £17m as a direct result of taking on "the majority of partners, staff and business of the insurance group of Halliwells" in July 2010.
2 minute read

International Edition

BLP's highest earner took home £1.6m in 2009-10, LLP filings reveal

Berwin Leighton Paisner's (BLP) highest-paid member received £1.6m in 2009-10 - a 31% increase on the previous year's top figure, according to the firm's latest limited liability partnership (LLP) filings. During 2009-10 the UK top 20 firm saw its best-paid member take home £380,000 more than 2008-09's top earner, according to the filings with Companies House.
2 minute read

International Edition

Camerons LLPs reveal £4.5m bank loan paid to de-equitised partners

CMS Cameron McKenna took out a £4.5m bank loan last year to finance a one-off profit payment to the 16 partners that it moved from the equity into the fixed-share ranks in May 2010. The information, contained within Camerons' 2009-10 limited liability partnership (LLP) accounts, further highlights the hit on profitability the firm suffered during the financial crisis.
3 minute read

International Edition

Norton Rose LLPs show £5m savings due to flex working scheme and outsourcing

Norton Rose reduced its salary costs by £5m during the last financial year through its high-profile Flex programme and the outsourcing of around 60 City support staff. The firm's 2009-10 accounts, recently filed at Companies House, show that total staff salaries and wages decreased from £131m to £126m over the year.
2 minute read

International Edition

Linklaters LLPs reveal 14% drop in Asia revenues and £2.2m pay for top earner

Linklaters' Asian operations saw the biggest regional percentage drop in revenue during the 2009-10 financial year, according to the firm's limited liability partnership (LLP) filings with Companies House. The accounts, which cover the period from 1 May 2009 and 30 April 2010, show that revenues for the region stood at £123m - a drop of 14% compared with the 2008-09 figure of £142m. Continental Europe made up £438.3m of Linklaters' £1.18bn turnover - down 11% on the previous year, while UK and Middle East revenues dropped by £52m to £542m (7%) during the period.
3 minute read

International Edition

Quinn Emanuel's City office announces £5.7m annual profit

Quinn Emanuel Urquhart & Sullivan's London arm made profits of £5.7m during its first full year of trading in London, with the highest-earning partner taking home just under £1.5m, according to the US law firm's UK limited liability partnership (LLP) accounts for 2009. The accounts, which cover the year ending 31 December 2009, show that while turnover for the period stood at £7.6m, the law firm's operating profit stood at £5.7m – indicating a profit margin of 75%.
2 minute read

International Edition

Trowers confirms job cuts as H1 financials fall behind budget

Trowers & Hamlins is set to make another round of job cuts in London and Manchester after confirming that turnover has fallen behind budget for the first half of the financial year. The firm has confirmed that it is reviewing five fee earner roles and two staff jobs in Manchester as well as four fee earner roles in London, after reviewing three or four UK positions in August this year.
2 minute read

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