Dewey posts flat PEP, slight revenue rise for 2008

Dewey & LeBoeuf has announced a marginal revenue hike for the 2008 financial year.

The US firm grew gross revenue 2.1 per cent from $1.008bn in 2007 up to $1.03bn last year. Average profit per equity partner (PEP) was static at $1.57m.

Dewey & LeBoeuf chairman Steve Davis said: “I would like to thank all of our lawyers around the world for their incredibly hard work during such extraordinary economic times. This, of course, is no time to sit back or look back. We remain entirely focused on helping clients with the myriad challenges they face in such an adverse climate.”

During the year, Dewey ramped up its international network, launching three offices in the Middle East in Abu Dhabi, Dubai and Qatar.

But 2008 was also a turbulent year for the firm, seeing it close offices in Austin, Charlotte, Hartford and Jacksonville.

Last year, The Lawyer also revealed that Dewey had put monthly partner distributions temporarily on hold amid concerns over the economic downturn (3 Nov 2008).

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