| Turnover: | £272.5m |
| Profit per equity partner: | £1.1m |
| Revenue per lawyer: | £552,000 |
| Total number of lawyers: | 520 |
Milbank Tweed Hadley & McCloy is one of the top 10 firms in the world when ranked by average profit per equity partner, posting a figure of £1.1m ($2.02m) for 2005.
The firm managed to increase its ranking one spot to ninth in the table, helped by Davis Polk & Wardwell's fall down the rankings, and a 6.3 per cent increase on its 2004 figure of £1.04m ($1.9m).
The firm also enjoyed a good year for revenue and increased its turnover by 15 per cent, but just failed to crack the half-billion dollar milestone. Milbank recorded gross revenue of £272.5m ($496m) for 2005, up from the £237m ($431.5m) it posted in 2004. The 2004 result was itself an 8 per cent improvement on 2003.
The firm has an impressive pedigree in project financing and features regularly on some of the biggest deals going in the Middle East sector, all of which are serviced out of London.
Milbank maintains offices in New York, Washington DC and Los Angeles in the US; its Silicon Valley office closed at the end of 2005. In Europe it has two German offices, in Frankfurt and Munich.
It was one of the first firms to recognise Asia as a legal market, establishing Hong Kong and Tokyo offices in the mid-1970s. The firm is also present in Singapore, where it opened in 1985.
That office, along with London, acts as the firm's springboard into India. However, it has only recently joined the trend of firms opening in mainland China, securing its Beijing licence in September. The firm had hoped to open earlier in 2006, but was delayed in getting its licence approved.
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