Revenue and PEP up by 4.5% at Gibson Dunn

Gibson Dunn & Crutcher has posted a rise in excess of 4.5 per cent for both revenue and average profit per equity partner (PEP) for the 2015 financial year.

Total turnover stood at $1.54bn last year, a rise of 4.7 per cent while PEP rose by 4.6 per cent to $3.19m.

Average revenue per lawyer grew by 4.1 per cent to around $1.27m, with the total number of lawyers growing by eight last year.

The increases in Gibson Dunn’s financial performance coincided with increases in partner headcount. The total number of equity partners grew by five to 297 while non-equity partner ranks grew by one to 42.

Standout matters during the year include representing longstanding client Towers Watson on its $18bn merger with Willis Group, and St Jude Medical on its multi-billion dollar acquisition of Thoratec.

According to data from Thomson Reuters, the firm handled 90 deals globally worth $346.7bn in the first nine months of 2015.

Last year Gibson Dunn hit the headlines when partner Peter Gray was found to have deliberately misled the High Court by allowing falsified evidence to be submitted in the long-running Republic of Djibouti and Abdourahman Boreh corruption case.

Gray, who is no longer with Gibson Dunn, had been representing the Republic of Djibouti in its case against Abdourahman Boreh. The case was later dismissed and Djibouti was ordered to pay £9.3m in costs.

The court also ruled that Gibson Dunn and its client should pay upwards of £800,000 in costs to Boreh as a result of the incident.