lawjobs.com News And Views
  • This Site
  • Law.com Network
  • Legal Web
  • lawjobs.com Home
    • Post a Job
    • Post a Resume
    • Find a Job
  • Job Seekers >>
    • Create a Job Alert
    • Post Resume
    • Sign In/Sign Up
    • Find a Job
  • Employers >>
    • Media Kit
    • Search Resumes
    • Sign In/Sign Up
    • Post a Job
  • News & Views >>
    • Profiles
    • Compensation Matters
    • Tips -for Success
    • Career News
  • Directories >>
    • Temporary Legal Staffing
    • Legal Associations
    • Law Firms & Employers
    • Legal Recruiters
  • Related Sites >>
    • The Careerist Blog
    • Public Interest lawjobs.com
  • Help

    Home > News & Views > Clifford Chance Accounts Reveal Management Team Pay Hike of 10 Percent

    Font Size: increase font decrease font

    Clifford Chance Accounts Reveal Management Team Pay Hike of 10 Percent

    By Pui-Guan Man All Articles 

    Legal Week

    October 5, 2012

    •    
    •    
    •    
    •      
     

    Clifford Chance's management committee received total remuneration of £19 million for the 2011-12 financial year, a 10 percent increase from the previous year's figure.

    The figure is contained within the firm's latest limited liability partnership accounts, which show the 16-member board received a total of £17.3 million in 2010-11.

    The report also reveals that the average partner headcount at the firm increased 3 percent to 568 in 2011-12, while the number of associates rose 5 percent to 2,325. Total staff costs increased by 5 percent from £537.3 million to £565.7 million.

    Profit available for profit share among members rose to £382.5 million in 2011-12, up almost 13 percent from £339.5 million in 2010-11.

    Audited revenue for 2011-12 rose 7 percent to £1.303 billion from £1.219 billion in the previous year, the same figure as reported by the firm earlier this year.

    Geographically, the Asia-Pacific region saw the most significant growth, with a 28 percent increase on the previous financial year to account for 14 percent of global revenue. The firm's performance in the region was bolstered by its tie-ups with Australian boutiques Chang Pistilli & Simmons and Cochrane Lishman Carson Luscombe during 2011, as well as solid returns from its bases in China, Hong Kong and Singapore.

    Capital net contributions made by partnership members also increased significantly over the year, up from £1.9 million in 2010-11 to £8.1 million in 2011-12. The firm attributed this in part to a larger number of partners promoted into the equity over the year as well as a substantial number of senior lateral hires made during the period.

    The report also showed that the firm repaid a £2.2 million bank overdraft during the year, with cash at the bank and in hand now standing at £120 million, up from the 2010-11 figure of £66.8 million.

    Separately, the accounts note that the closure of its defined benefit pension scheme came into effect from the end of the 2010-11 financial year, stating: "The scheme was closed to future accrual with effect from 30 April 2011, having been closed to members since 2005."

    You must be signed in to comment on an article

    Find similar content

    Firms mentioned

        
    • Chang Pistilli & Simmons
    • Clifford Chance

    Companies, agencies mentioned

        
    • Singapore
    • Asia-Pacific

    Key categories

        
    • Law Firm Management

    Most viewed stories

        
    1. Four Essential Steps to Take Before Changing Law Firms
      •      
    2. New EEOC Commissioner Marks a First for Agency
      •      
    3. Judges Weigh Delaware Court of Chancery's Arbitration Program
      •         
        • Subscription Required
    4. Quinn Emanuel to Open in Hong Kong
      •      
    5. 'Low Bono' Endeavor Aims to Address Unmet Legal Needs
      •      
    lawjobs.com

    TOP JOBS

    MORE JOBS

    POST A JOB

    From the Law.com Network

    Hiring Interns? Be Sure to Do It Right

    ACC Weighs in on Arizona's In-House Pro Bono Rules

    Ex-Dewey Partners Face New Foe in Firm's Bankruptcy

    S&C Adds Linklaters Restructuring Partner in London
    •      
      • Subscription Required

    Contrite Companies Can Win Forgiveness in Bribery Cases
    •      
      • Subscription Required

    Plaintiffs Want to See Toyota's 'Crown Jewels'
    •      
      • Subscription Required

    Enron Sandbox Stirs Up Private Data, Again

    LegalTech West Coast Wraps Up With Ethics, VC News

    In Tricky Prosecutions, Judges Play Peacemakers

    Ropers Majeski Tries to Re-Invent Itself
    •      
      • Subscription Required

    Fla. Attorneys Lead Force-Placed Insurance Fight

    Lawsuit Names Missing Fla. Attorney for Alleged Fraud
    •      
      • Subscription Required

    Summer Programs Still in a Drought

    Lawyer Not Covered for Alleged Malpractice at Prior Firm
    •      
      • Subscription Required

    The Affordable State-Specific Practice Solution
    Available in NY, NJ, PA and CT editions - research, draft and prepare even the most complex cases with ease.

    Firm Takes Another Hit in Bid for 'Unconscionable' Fees

    New York's Martin Act Faces Test in Challenge to 2005 Case

    Castille Testifies in Favor of 'Civil Gideon' Funding

    Workers' Comp Judges Can't Fight Rescinded Raise
    •      
      • Subscription Required

    Law Schools Are Looking Beyond LSATs, Says Mich. Dean

    Is Freezing Your Eggs the Solution?

    Advising Clients on Weather and the Workplace
    •      
      • Subscription Required

    Texas Sues BP, Others Over Deepwater Oil Spill Disaster
    •      
      • Subscription Required

    'Follow That Escapee!'

    Judge Who Tossed Defense Counsel Accused of 'Partiality'
    •      
      • Subscription Required

    Corporate Bribery Case Part Of National Trend
    •      
      • Subscription Required

    Court Continues To Grant Lawyers Fraud Immunity
    •      
      • Subscription Required

    The Law.com Network
    • ADVERTISE

    law.com

    • Newswire
    • Special Reports
    • International News
    • Lists, Surveys & Rankings
    • Legal Blogs
    • Site Map

    alm national

    • The American Lawyer
    • The Am Law Litigation Daily
    • Corporate Counsel
    • Law Technology News
    • The National Law Journal

    alm regional

    • Connecticut Law Tribune
    • Daily Business Review (FL)
    • Delaware Law Weekly
    • Daily Report (GA)
    • The Legal Intelligencer (PA)
    • New Jersey Law Journal
    • New York Law Journal
    • GC New York
    • The Recorder (CA)
    • Texas Lawyer
    • The Asian Lawyer
    • Focus Europe

    directories

    • ALM Experts
    • LegalTech® Directory
    • In-House Law Departments at the Top 500 Companies
    • Top Rated Lawyers
    • The American Lawyer Top Rated Lawyers
    • The American Lawyer Legal Recruiter's Directory
    • Corporate Counsel Top Rated Lawyers
    • The National Law Journal Leadership Profiles
    • National Directory of Minority Attorneys
    • Go-To Law firms of the Top 500 Companies

    books & newsletters

    • Best-Selling Books
    • Publication E-Alerts
    • Law Journal Newsletters
    • LawCatalog Store
    • Law Journal Press Online

    research

    • ALM Legal Intelligence
    • Court Reporters
    • MA 3000
    • Verdict Search
    • ALM Experts
    • Legal Dictionary
    • Smart Litigator

    events & conferences

    • ALM Events
    • LegalTech®
    • Virtual LegalTech®
    • Virtual Events
    • Webinars & Online Events
    • Insight Information

    reprints

    • Reprints

    online cle

    • CLE Center

    career

    • Lawjobs
    About ALM  |  About Law.com  |  Customer Support  |  Reprints  |  Privacy Policy  |  Terms & Conditions