Goodwin has pushed revenue to a new record high after a year of double-digit financial growth, with the US firm also electing a new managing partner to take the reins in 2026.
The global firm saw revenue rise 12% to $2.7bn over the 12-month period to 30 September, with profit per equity partner up 20%. (The firm reported PEP of $3.62m for the 2024 calendar year).
Over the past year, the firm has pushed forward with a new ten-year strategic plan dubbed ‘Goodwin 2033’, and according to chair Anthony McCusker, the latest results are evidence that the strategy is already paying dividends.
McCusker, who has chaired the firm since October 2023, told Legal Business that the strategy is ‘more an evolution than a change’ from the firm’s approach over the last decade after the firm made some ‘hard decisions’ in the early 2010s to focus on core industry areas – healthcare, investment funds, life sciences, private equity, real estate and technology.
Though the firm declines to provide breakdowns for individual offices, McCusker said that London is ‘core to our success globally’, emphasising that Goodwin is practising in all six of its core industry areas out of the capital. ‘We felt we could lead in these industries that we thought had the best potential for growth,’ he said.
From next October, McCusker will work alongside a new managing partner, private equity specialist Joshua Klatzkin, who has been voted in after an election process held a year in advance to allow for a 12-month period during which Klatzkin will shadow current postholder Mark Bettencourt.
McCusker paid tribute to Bettencourt’s leadership, noting that revenue and net income have more than doubled and PEP has increased by 175% over his six years as managing partner. ‘When Josh takes over we will be a couple of years into the 2033 strategy and deep in the execution and implementation stage, so he can really hit the ground running,’ he added.
Goodwin recently topped the law firm rankings for M&A deal volume in Q3, with total deal values up by 115% on the corresponding quarter last year. McCusker also drew attention to the firm’s litigation practice, which grew by at least 9% for the fifth year running.
In London, recent partner hires have included Matthew Ayre, who was previously head of the leveraged finance team at Travers Smith, as well as former Kirkland & Ellis private equity partner Tom Roberts.
This May, the firm also took on HSBC’s head of legal market engagement Chris Grant as head of client value, and McCusker believes there is much more than just pricing when it comes to providing client value, with the firm seeking to embed itself deeply within its clients’ industries to become ‘not just vendor but strategic partner’.
