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Arnold & Porter has registered one of the largest increases in turnover and average profit per equity partner (PEP) so far in this year’s US firm reporting season.
Total revenue at the Washington-headquartered firm rose by 15.2 per cent from $555m to $639.5m in 2011. PEP was up considerably more, rising by 25.4 per cent from $1.12m to $1.4m.
A string of major acquisitions, competition matters and litigation powered the firm’s standout year. Highlights include advising Intel on the antitrust aspects of its 2011 acquisition of McAfee in both the US and EU; handling an increase in cases involving litigation related to pharmaceuticals, including a multibillion dollar patent dispute for Boston Scientific; and advising several clients in global FCPA investigations.
The firm was also retained in the UK by the management and standards committee of News Corporation to advise on criminal matters related to the News of the World phone-hacking case, police payments investigation and other relevant issues.
Kathleen Harris, who joined last year from the Serious Fraud Office, led the latter case (28 February 2011).
The firm’s net income rose by 27.4 per cent from $239m to $304.5m while average FTE headcount for 2011 stood at 676 lawyers and 217 equity partners.