| Turnover: | £439.3m |
| Profit per equity partner: | £703,000 |
| Revenue per lawyer: | 426,000 |
| Total number of lawyers: | 1,018 |
McDermott Will & Emery posted a global gross revenue of £439.3m ($799.5m) for 2005, a rise of 7 per cent from last year's £409.3m ($745m)
Similarly, average profit per equity partner (PEP) rose by 7.5 per cent to £703,000 ($1.28m), up from £653,000 ($1.19m) last year.
The figures point to a year that could be best described as 'solid' but hardly spectacular.
Chicago-headquartered McDermott, which has around 34 per cent of its top 250 clients based outside the US, bears all the hallmarks of a truly international firm. But in 2005 those credentials took something of a battering, with the end of its merger with Italian firm Carnelutti after just two years. And in Germany the US firm's tax team suffered a series of departures, including a four-partner exit from its tax department in Munich.
Internationally, the UK remains McDermott's most significant outpost. Last year the 25-partner London office, which reports on a 31 March year-end, turned over£25.9m ($47.1m), up from £23m ($41.8m) in 2004.
In the US, McDermott's corporate team, which includes finance, is the single biggest group accounting for approximately 26 per cent of revenues. Litigation, IP and tax, and also private client, are the firm's other key areas.
Among its key sector lines are financial services, energy and healthcare, a booming market in the US. McDermott's health practice had a particularly good year both on the contentious and non-contentious side. Its track record in this area continued into 2006, when it advised NationsHealth on the sale of its discount prescription drug card business to HealthTran.
.
|
