The Lawyer Asia Pacific 150 is the only research report to provide a ranking of the top 100 independent local firms and top 50 global firms in the region. The report offers critical review of some of the fastest growing firms and their strategies, a country-by-country guide to leading legal advisers and legal services market trends, plus exclusive insight into the current business development opportunities in the Asia Pacific. Read more
This year, The Lawyer’s annual ranking of the largest UK law firms by turnover is available as an interactive, digital benchmarking tool. For the first time this will allow you to manipulate each data set against the metrics of your choice.
Proskauer Rose has posted its financial results for 2008, unveiling a 10 per cent drop in average profit per equity partner (PEP).
Average PEP dropped from $1.55m in 2007 to $1.4m last year, one of the most significant reductions in average profit among US firms so far.
Total revenue at Proskauer however grew last year, increasing around 1 per cent from $627m in 2007 to $634m in 2008.
The past 12 months or so have seen Proskauer ramp up an increasingly expansionist strategy. Last September, The Lawyer reported the firm was opening its first offices in Asia. hiring a trio of lawyers in Beijing and Hong Kong including two partners from the now defunct US firm Heller Ehrman’s Beijing office (9 Sept 2008).
More recently, Proskauer expanded the office it opened in Chicago last April with the hire this month of three partners from Winston & Strawn’s restructuring and insolvency group, including former co-chair Jeff Marwil.
However, the firm has recently been forced to cut back on headcount, shedding 35 associates and 25 support staff last December (5 December 2008).
“Last year’s revenues were up but there was very little attrition throughout the firm,” said one Proskauer partner. “We had too much headcount.”