Winston & Strawn's average profit per equity partner rose by 12 per cent, from £541,000 ($985,000) to £612,000 ($1.115m), during the last financial year. Gross revenue also increased, by 10.5 per cent, to £313.7m ($571m). The figures put Winston & Strawn in 41st place in the profit table in the Global 100, up one from the previous year, and 39th in the revenue table, up two places from 2004-05.

While Winston's financial performance for 2005-06 was steady, the Chicago-based firm saw a number of changes during the year. Managing partner Jim Neis and chair James Thompson stood down in favour of Thomas Fitzgerald and Dan Webb respectively.

Thompson, chair for 13 years, has become a controversial figure of late. The former Illinois governor insisted that the firm bankroll the corruption trial of another Illinois governor, George Ryan, whom Webb represented pro bono in court. Ordinarily Webb charges £370 ($700) an hour. The trial, which saw Ryan sentenced to six-and-a-half years the same week as Webb became chairman, reportedly cost Winston £10.52m ($20m) in foregone fees.

Elsewhere, the firm boosted its energy practice during the year by hiring three partners from White & Case, a move that followed the closure of the latter's San Francisco office. Partners Jerry Bloom, Lisa Cottle and Joseph Karp, who specialise in regulatory and project finance matters for the energy sector, moved across to establish a West Coast energy practice at Winston.

Over in Europe, the London office was hit by the departure of three banking partners, leaving the office with just four partners and seven associates.

However, the Paris office has grown significantly over the past year and, with eight partners and an additional 25 associates, is now as big as some independent French firms.

• The Top 100: 26-50