How the partners fared in the largest ever law firm float

The world’s largest public float of a law firm has taken place with the listing of DWF on the London Stock Exchange. Although there have been some changes in partner numbers since October 2018, at that time the firm was trending towards annual revenue (after recoverables) of £267m. The firm then comprised of 2,706 full time equivalent staff plus 312 full time equivalent equity and non-equity partners. The 69 full time equivalent equity partners (using the number as at October 2018) have given up a large degree of income certainty in exchange for shares and expected dividends. The equity partners will retain approximately 63.5% of the equity. With a float market capitalisation of £366m, each

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