Clyde & Co’s highest paid partner get 36% pay rise as profit climbs

The highest paid partner at Clyde & Co saw their pay grow 36% last financial year as profit at the firm swelled.

According to accounts filed at Companies House, the highest paid partner at the insurance-led firm took home £1.8m in the year to 30 April 2015, up from £1.3m the previous year.

This pay rise came as total profit for distribution among members grew 32% to £109.7m, up from £89.2m.

Revenue at the firm also grew substantially to £396.7m, up from £366m.

In the LLP accounts the firm also reported that the average number of members in the firm’s partnership rose to 236 in 2014-15 up from 222 the previous year.

The total number of staff across the group also rose to 2,503 up from 2,307, driven largely by a rise in practice staff to 1,433, from 1,299.

Clydes also reported a rise in net debt for the fifth year in a row. It reported that net debt rose to £41.6m at the end of 2014-15, up from £40.4m a year before.

The firm has not reported a fall in net debt since 2009-10 when it reported net debt fell to £10.8m down from £11.9m the year before. That same year the firm turned over £191m.

Over the course of the year Clydes made £5596 worth of charitable donations, down from £43,084 in 2013-14.