Hogan Lovells has posted its strongest financial performance since its transatlantic union a decade ago, with turnover rising 6% and solid year-on-year growth in all key metrics.
Revenue in 2019 came in at $2.246bn, profits per equity partner (PEP) was up 9% to just over $1.5m despite the firm growing its equity ranks by 13 to 536, while revenue per lawyer (RPL) rose 6% to $850,000 as total headcount grew marginally to 2,642. Continue reading “Pretty, pretty, pretty good: outgoing Hogan Lovells chief lauds best-ever financials as PEP surpasses $1.5m”
In another robust year for Boston’s Goodwin, its ever-expansive City arm has seen turnover lift 11% to $74m amid a year of aggressive investment.
The double-digit City turnover growth may not be as pacey as last year’s eye-catching 58% uptick to $66.8m, but it speaks of the benefits of investing heavily and sticking to the strategy in a year characterised by a slower rate of growth for many more mature practices of US firms in London. Continue reading “Goodwin’s City arm hikes revenue 11% to $74m on the back of lateral bonanza”
The London office of Akin Gump Strauss Hauer & Feld may have failed to maintain 2018’s pacy revenue growth of 28% on the back of a restructuring bonanza, but globally the firm has reported steady global growth amid a sustained lateral push.
City turnover was broadly flat in 2019, rising only 1% to $125.1m from $123.5m after an exceptional 2018 that saw revenue surge dramatically from $96.2m. The global picture was stronger, with gross revenue increasing 6% from $1.07bn to $1.135bn and profit per equity partner (PEP) rising 8% to $2.6m from $2.4m the previous year. Continue reading “Akin Gump falls short of last year’s City revenue surge amid global growth and lateral push”
Cadwalader, Wickersham & Taft has seen its London revenue drop for the second year in a row, falling 4% to $41.3 in 2019.
Following a 13% fall to $43.1m in 2018, the figure is a far cry from the $50m it recorded in 2017 and comes despite the firm posting a solid 9% global revenue growth to $459m. Continue reading “Cadwalader London revenue down again despite strong global performance”
DWF is looking to crack the US market with an acquisition which would likely surpass its £42.5m deal for a Spanish law firm announced today (11 December).
The firm, which became the UK’s sixth and largest law firm to list in March this year, announced the acquisition of 40-partner Rousaud Costas Duran (RCD) alongside its half-year results, adding 400 staff across offices in Madrid, Barcelona and Valencia. RCD reported revenue of €35.7m last year. Continue reading “‘International is the growth engine’: DWF eyes US after £42.5m Spanish acquisition”