Linklaters’ LLP accounts for the 2015/16 financial year revealed that the average remuneration for the firm’s top leadership team was reduced by 4 per cent.
The total amount shared among the 12 members of Linklaters’ executive committee and the chair of the firm’s partnership board, senior partner Charlie Jacobs, increased by 3.7 per cent from £18.9m in 2014/15.
However, on a per capita basis, members of the firm’s leadership team earned £1.51m last year, down 4.3 per cent from £1.58m per member in 2014/15. The drop is partially due to the fact that the number of members in the firm’s executive committee grew by one from 11 in the period.
The LLP filings also show that the firm’s offices in Asia and the UK experienced stronger revenue growth last year while Europe and the US posted flat results.
Globally, Linklaters’ turnover grew 3.3 per cent last year from £1.26bn to £1.31bn, signalling a steady uptick in revenue in recent years. In 2014/15, turnover grew by 1 per cent from £1.26bn. However, revenue growth is still slower than in previous years. Linklaters boosted turnover by 5 per cent in 2013/14, from £1.19bn.
The regional revenue breakdown highlights Asia Pacific as the fastest growing region for the firm, despite a raft of departures in the region during the year. The region contributed £158.3m, or 12 per cent of the global total revenue. It was up 7 per cent from £148.8m reported in the previous year, more than doubling the firm-wide average growth rate.
In the UK, the firm made £628.5m, up 5.3 per cent from £596.5m in 2014/15.
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