DLA Piper’s revenue reached an all-time last year, with its year-end financials for 2011 revealing a global gross revenue of $2.25bn (£1.42bn).
Average profit per equity partner rose almost 8 per cent to $1.225m (£773m) while the firm’s profit margin crept up from 24 to 25 per cent.
The international firm credited some of the revenue increase on its tie-up with Australian ally Phillips Fox (31 January 2011). The two firms cemented their friendship last year, a deal that made DLA Piper the world’s largest firm by attorney headcount.
The 2011 year also saw the firm embark on a lateral hiring spree, with the hire of Linklaters’ former managing partner Tony Angel as co-global chairman and senior partner of business outside the US a highlight (26 Oct 2011).
In the same week, the firm announced it had become a minority stakeholder in ABS venture LawVest (28 October 2011).
DLA Piper hired 87 new partners overall, with headcount for the firm reaching 3,745 last year, an extra 400 lawyers compared to 2009-10.