Walker Morris (Leeds)

Our view...

Walker Morris is unique amongst the major firms in Leeds in that it rigidly refuses to contemplate anything other than a single-site existence. And it can't be said that this approach has done it any harm, as it has consistently been one of the most profitable firms in the country.

Turnover for 2007/08 was up £46.6 million and profits per partner to £672,000. Which means the partners are taking home far more than their competitors at decent, mid sized City practices. This is partly because there aren't that many of them - the firm has a reputation for being highly restrictive as to whom they let into the inner sanctum of the equity partners. Some argue that their (constant) profitability is symptomatic of high leverage and bulk litigation rather than real growth. But then with those at the top making more than £850,000 a year, the partners aren't complaining either way.

What about the firm's single office policy? Well, as the other major regional players scrambled to set up offices in London, Europe and beyond, the firm calmly pointed out that there was plenty of high quality work to be had in Leeds. And then set about proving it beyond doubt. Not that the policy has stopped it from acting for clients from further afield - it is regularly instructed by Gap and Debenhams and undertake all European work for Caterpillar (tractors and shoes).

The firm is also well-respected for its national PFI and real estate work and the corporate group managed to buck recent trends by consistently posting increases in turnover at a time when their competitors have been struggling. But although the firm kept on all 15 of its 2007 qualifiers and hired another seven on top, things haven't looked quite so rosy recently - the firm retained 14 of its 17 trainees for September 2010. Which is still a very good showing.

If you're a committed to a future in Leeds and reckon you're good enough to crowbar your way into partnership in the future, this might be the place for you. Those who'd at least like the option of working elsewhere and a greater chance of equity at the end of it would be better off applying to less narrowly focused rivals.