Berwin Leighton Paisner first to freeze pay after Brexit
Berwin Leighton Paisner (BLP) had a strong financial year, reporting that it hit its second highest average profit per equity partner in its history. It's PEP came in at £683,000.
It subsequently set a mark as the first time that will freeze all lawyer and staff salaries in response to the outcome of the referendum in the UK in June known as Brexit.
The firm saw its profits rise but revenues dip last year, losing close to two points, dropping from last year's £259m to £254m this year.
The pay freeze has been implemented for four months, postponing the firm's normal 1 July salary review date to 1 November of this year.