City firm Fieldfisher has revealed that the remuneration of its highest-paid member more than doubled last year as it boosted profits by 40%.
In one of the first postings of 2014/15 results by a large firm, Fieldfisher’s accounts for the year ending 30 April 2015 showed that the highest-paid member received £1.2m, compared with £620,00 the year before. Michael Chissick has been managing partner at the firm since February 2013.
Meanwhile the total remuneration for members stood at £42.6m, equating to £310,000 when averaged out among the firm’s 137 members. This compares to £240,000 in 2013/14 across 127 members.
Operating profits for the year rose to £42.8m on a turnover of £113.9m. This was up from a profit of £30.6m and turnover of £101.6m the previous year.
The firm operates nine offices across Asia, Europe and North America.