The Lawyer Africa Elite 2014 features an in-depth look at 46 leading independent firms’ strategies in 15 key sub-Saharan jurisdictions, as well as the views of in-house counsel from some of Africa’s largest companies... Read more
This year, The Lawyer’s annual ranking of the largest UK law firms by turnover is available as an interactive, digital benchmarking tool. For the first time this will allow you to manipulate each data set against the metrics of your choice.
Dewey & LeBoeuf today (Monday 25 February) announced its first financial results since the merger of Dewey Ballantine and LeBoeuf Lamb Greene & MacRae last year.
Global revenue for 2007 was just over $1bn (£500m), representing an approximate increase of 9 per cent on the combined revenues of Dewey Ballantine and LeBoeuf for 2006, which add up to $921m (£460.4m). That year the two firms reported revenues of $408m (£203.9m) and $513m (£256.4m) respectively.
The average profit per equity partner (PEP) of the two firms in 2006 was $1.43m (£715,000). On that basis, PEP increased by almost 10 per cent last year, to $1.57m (£785,000).
Dewey & LeBoeuf firm chairman, Steve Davis, told The Lawyer: “The markets have changed significantly throughout the year and the firm has certainly experienced a shift in emphasis. We are redeploying our lawyers and are looking more to restructuring and disputes.”
Last year (30 November), The Lawyer reported that Dewey had snared Weil Gotshal & Manges co-head of restructuring, Martin Bienenstock along with partner Judy Liu and associate Timothy Karcher to strengthen the firm’s restructuring capabilities.
Davis added: “The firm will be focusing on integration in 2008. We will experience a slowdown in lateral hiring and we will be looking more to integration post merger.”
Dewey’s merger with LeBoeuf last year created a 1,300-lawyer firm, with operations in 12 countries and a combined turnover of $921m (£460.4m).
In December, Davis underscored the firm’s dedication to London, vowing to reposition Dewey & LeBoeuf as a transatlantic firm. Davis said the firm aimed to increase the London headcount by 50 per cent.