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International Edition

Clydes LLPs show rising pay for top earner

Clyde & Co saw the average number of members in its limited liability partnership (LLP) increase from 112 to 126 during the last financial year, with the highest-paid member taking home £885,250. Clydes' LLP accounts for 2009-10 show the top earner received nearly 5% more than the firm's highest earner the previous year, who took home £845,467.
2 minute read

International Edition

Hogan Lovells' international LLP set for £40m post-merger revenue boost

Hogan Lovells' international partnership is anticipating an increase in revenues of up to £40m a year from legacy Hogan & Hartson's operations outside of the US, according to the firm's limited liability partnership (LLP) accounts. The 2009-10 accounts, recently filed with Companies House, cover the activities of legacy Lovells outside of the US - now Hogan Lovells International LLP. Hogan Lovells maintains two separate profit pools and accounting years, with most operations outside North and South America housed within Hogan Lovells International.
2 minute read

International Edition

CC accounts reveal £41m staff costs savings in wake of restructuring

Clifford Chance (CC) reduced staff costs by £41m during 2009-10, after cutting its total headcount by 12% during the extensive firmwide restructuring carried out in the previous financial year. Figures within the firm's 2009-10 limited liability partnership (LLP) accounts, recently filed with Companies House, show that total staff and related costs at the magic circle firm dropped from £576m in 2008-09 to £535m in 2009-10 - a reduction of 7.6%.
2 minute read

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

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