Linklaters and Freshfields increase PEP
Linklaters has reported a 1.6 percent growth in pre-tax profit to £521.9 million, with profit per equity partner growing by £73,000 to £1.3 million. The firm recorded revenues of a little under £1.19 billion.
Managing partner Simon Davies said that there were signs that the demand for legal services has been on the rise during the last few months, and explained that the increase in pay for partners was “principally driven by efficiencies”.
Meanwhile Freshfields announced a 7.2% jump in turnover to £1.22 billion, and equity partners saw an additional £82,000 added to their profit, bringing the sum to £1.4 million each.
Ted Burke, global managing partner at Freshfields, said: “Looking ahead, we expect continuing strong demand for advice around complex new regulatory regimes, cross-border litigation and global regulatory investigations, and we hope that, in the medium term, transactional activity will also increase as confidence in a sustained recovery in the global economy strengthens.”