Osborne Clarke’s highest-paid partner received £913,000 in 2015/16, according to the firm’s first LLP accounts.
The firm announced plans to convert into a limited liability partnership in September 2015 becoming one of the last UK firms to make the transition.
The accounts cover a 16-month period from the start of 2015 to April 2016 and show that operating profits at the firm grew 22 per cent from £40.7m to £49.7m.
The LLP takes into account work provided in the UK and the US, while Osborne Clarke International is a swiss verein operating across Europe and Asia.
Turnover rose 17 per cent from £98.2m to £114.7m, with the activities of the LLP group making up the majority of the firm’s revenue.
Globally, Osborne Clarke posted a 23 per cent hike in revenue for 2015/16 to €236.3m (£186.8m).
The firm’s highest-paid member received £913,000 between the start of 2015 and mid-2016 – rising 22 per cent from £748,000.
Its staff costs rose from £33m to £37.8m for the 658 persons employed by the LLP but not classed as members.
There were 112 partners at the firm in the UK and US, with the firm’s London office recruiting a number of laterals this year. Addleshaw Goddard employment incentives head Michael Carter is joining the firm, along with two Irwin Mitchell corporate partners Edward Persse and Paul Smith, as well as Irwin Mitchell real estate duo Jo Footitt and Louise Cartwright.
Osborne Clarke’s revenue rise over 2015/16 was the fifth largest out of the entire UK200, according to figures released this week. Simpson Millar saw the biggest increase in turnover, with revenue jumping by 45 per cent.
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