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9 February 2009
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Latham & Watkins has posted a 21 per cent drop in average profit per equity partner (PEP) for the 2008 financial year.
The top line fall means average PEP at Latham last year stood at $1.8m compared with $2.27m in 2007.
Total revenue at Latham also fell in 2008, with a 4 per cent drop taking turnover to $1.9bn, back to below the $2bn threshold the firm broke last year.
The expansionist US firm’s financial performance for 2008 had been hotly anticipated, with sources last week suggesting the firm’s turnover could have dropped by as much as $400m.
Latham did not comment.
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Anonymous | 9-Feb-2009 5:19 pm
Epic fail'Everyone has been on tenterhooks for Latham & Watkins’ figures' - so why such a short article? I would like some more analysis please.
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Anonymous | 9-Feb-2009 5:21 pm
BackpeddleI take it that the extent to which you have buried this not insubstantial news is in direct correlaltion with the grossly eronious financials you coughed up last week.Well done.
Anonymous | 11-Feb-2009 3:35 pm
Latham PEP falls more than a fifthPEP in dollars has fallen but do you take the exchange rate into effect? If you do PEP has risen 15% in sterling. Either way - by most people's standards, still huge amounts of money being made and no redundancies yet at Lathams
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