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DLA Piper’s global revenue inched up by 1.7 per cent for the 2013 calendar year, rising to $2.48bn (£1.56bn).
The results follow an increase of more than 8 per cent between 2011 and 2012, to $2.44bn (£1.55bn) (7 February 2013).
Having stayed relatively static in 2012, revenue per lawyer increased 3.3 per cent from $605,000 to $625,000 in 2013.
The number of equity partners fell in 2013 from 461 to 454, gifting those that were left a 1 per cent rise in average profit per equity partner to $1.325m.
However, DLA Piper’s profit margin fell from 25 to 24 per cent and despite the slight improvement in the firm’s top line, net profit dropped by 0.3 per cent to $602m.
The global revenue comes shortly after DLA Piper’s International LLP accounts revealed that net debt dropped by 32 per cent in 2012/13 for all the firm’s operations outside of the US. The highest paid partner – understood to be the firm’s joint chief executive and managing partner Nigel Knowles – received £1.8m in 2012/13, a 3.3 per cent increase on 2011/12 (4 February 2014).
Earlier this month DLA Piper partners were told the firm was set for a leadership shake-up, with Knowles to replace Tony Angel as global co-chairman and London IP partner Simon Levine to be appointed as the firm’s next joint CEO (4 February 2014).
Joining Knowles on the US side as global co-chair will be Roger Meltzer, who is currently Americas co-chair and leader of the corporate and finance practice. Meltzer’s colleague as Americas co-chair, Jay Rains, will become the joint global CEO alongside Levine.
All the moves, which are subject to a partner consultation this year and a vote in September, will be effective from 1 May 2015. Angel will continue as senior partner of the international firm.