Shearmans knocks spots off other US City offices
In the first ever turnover survey of the five largest London offices of US firms, Shearmans reveals a much larger turnover for 2000 than its rivals. Its lawyers billed £7.3m more than those of its nearest competitor Weil Gotshal & Manges, which had a £37.7m turnover. At £45m, this is £2m more than UK firm Theodore Goddard's entire turnover.
Most significantly, the office's fees per fee-earner for 2000 hit £437,000, outstripping even Slaughter and May's figure for 1999-2000 of £401,000. And Shearmans' London office has grown from 103 lawyers this time last year to 126.
White & Case is understood to have billed £21m for 2000, but that figure is low because Maurice Allen's banking team did not join from Weil Gotshal & Manges until half way through the year.
Weil Gotshal's turnover jumped from £28.8m for 1999 to £37.7m, an increase of 31 per cent, despite the departures to White & Case.
| Top-five US practices in London | ||||||
 | ||||||
| Firm | Turnover (£m) | Fees per fee earner (£K) | Partners/total fee earners | |||
| Dechert | 37.4 | 297 | 49/208 | |||
| Shearman & Sterling | 45 | 542 | 20/134 | |||
| White & Case | 21 | 263 | 27/127 | |||
| Weil Gotshal & Manges | 37.7 | 303 | 23/112 | |||
| Reed Smith Warner Cranston | 13.7 | 232 | 27/78 | |||
| | ||||||
