Partners at the City firm will this year pocket an average of £655,000 – up by 30% from last year’s mark of £502,000.
According to the results, announced today (22 May), turnover at Camerons climbed by 19% over the same period, with the firm billing a total of £235m for the last 12 months – up from £197m in 2006-07.
The news marks one of the largest increases in PEP announced to date by a major
Commenting on the firm’s performance, Camerons managing partner Duncan Weston (pictured) said: “Our strategy continues to work. This year we have demonstrated the benefit of having a focused and distinctive European platform through CMS. Our clients have responded positively to our offering of geographic reach and local strength.”
The results include a rise in turnover of around 20% in both the firm’s banking and corporate practices.
In a related move, Camerons has announced that it is paying a firm-wide bonus to staff of 5% of salary, representing 18% of the growth in the firm’s profits. In addition, the firm said it had paid out £1.16m in bonuses to associates over the last 12 months via its quarterly bonus scheme.
