Baker Botts has reported a 6.16 per cent increase in global revenue for the past financial year.
The Texas-headquartered firm grew revenue from $577.7m in 2007 up to $613.3m in 2008. Baker Botts also grew average profit per equity partner (PEP) by 4.6 per cent from $1.3m up to $1.36m in 2008.
The past year was a particularly good one for Baker Botts in terms of growing its international arbitration capabilities. The firm snared Latham & Watkins lawyer Alejandro Escobar for its London office and Steven Lim in Hong Kong from local firm Raja & Tann in January last year. Both joined Baker Botts as special counsel.
Baker Botts is the latest US firm to announce its figures. Earlier today The Lawyer reported that White & Case had announced a 4.8 per cent drop in PEP for 2008 from $1.67m down to $1.59m (10 Feb 2009)
Yesterday, Morgan Lewis announced an 8.5 per cent revenue hike up to $1.12bn while PEP grew by 1.4 per cent up to $1.45m last year.