See Also
This Biglaw Firm Will No Longer Publish Its Profits Per Equity Partner
/var/www/vhosts/lawyersinamerica.com/httpdocs/app/views/singleBlog/singleBlogView.php on line 59">
Biglaw
Jul 2023
Ed. note: Welcome to our daily feature, Quote of the Day.
Our goal is create long term value - for our clients, our people and the society in which we operate. [Profits per equity partner] is not a metric which is helpful in this context nor is it useful for a business like ours with a diversified offering of legal and non-legal services.
-- Matt Hotson, chief financial officer of Mishcon de Reya, in a statement made after announcing the firm's impressive double-digit increase in overall profits and gross revenue. The international firm will no longer be publishing its profit per equity partner. As noted on the firm's website, its leaders believe that "PEP has become too narrow, short term and misleading as a metric," while noting that they think "[o]verall profit and increase in profits are much better indicators of real, rather than short term, business performance."
Staci Zaretsky is a senior editor at Above the Law, where she's worked since 2011. She'd love to hear from you, so please feel free to email her with any tips, questions, comments, or critiques. You can follow her on Twitter and Threads or connect with her on LinkedIn.
Tags:
biglaw
bonus news alerts
mishcon de reya
money
partner issues
profits per equity partner
profits per partner
quote of the day
above the law
abovethelaw.com
legal tabloid
legal news
legal blog
blawg
lawyer blog
law firm news
legal gossip
legal scandal
law firm salaries
partner salaries
associate salaries
law firm rankings
profits per partner list
biglaw
law schools
judges
law clerks
clerkships
strong
profits
firm
term
photo
increase
short
legal
metric
partner
equity
business
profit
real
noted
connect
leaders
believe
narrow
threads
our goal is create long term value a?? for our clients
our people and the society in which we operate. [profits per equity partner] is not a metric which is helpful in this context nor is it useful for a business like ours with a diversified offering of legal and non-legal services.
a?? matt hotson
chief financial officer of mishcon de reya
in a statement made after announcing the firma??s impressive double-di
