Ashurst's highest-paid partner took home £1.4m last year, in the largest payout at the firm in more than a decade.

The amount was 40% higher than the previous year, on the back of a 16% profit jump to £171.8m at the firm.

A spokesperson for the firm said the £1.4m payout is the highest amount taken home by a member since 2008.

The figures are disclosed in the firms latest LLP accounts, filed at Companies House for the year to the end of April 2018.

During the year, the firm's average number of partners dipped by four to 319 and the total staff headcount dropped to 2,553 from 2,609, slightly reducing staff costs by £2m to £235m.

Since disappointing results in 2015-16, when profit per equity partner plummeted by almost 20% and revenue fell 10%, the firm has improved its financial performance.

Last year, the firm announced a 10% hike in profit per equity partner to £743,000 for 2017-18, on the back of a 4% increase in revenue.

It revamped its lockstep in 2016, extending the top of the equity ladder to retain star performers. While this helped stem the flow of staff exits, the firm was hit by two senior corporate departures last week.

London managing partner Simon Beddow left to join Bryan Cave Leighton Paisner and fellow corporate partner Robert Ogilvy-Watson has joined Macfarlanes.

Beddow will be succeeded as London managing partner by real estate finance partner Ruth Harris.