Weil PEP rises 5 per cent to $2.5m as revenue stays flat

Weil Gotshal & Manges’ average profit per equity partner (PEP) rose by nearly 5 per cent globally last year to $2.5m (£1.79m).

In 2015, the firm saw worldwide PEP increase from $2.4m to £2.5m, although growth was at a slightly lower rate compared to 2014 in which PEP jumped by nearly 16 per cent.

The increase in PEP this year could be attributed to the overall decrease in the number of equity partners worldwide, falling 4.1 per cent from 171 to 164. Meanwhile lawyer headcount dipped by just four to 1,063.

Revenue growth mirrored that of 2014, with turnover climbing 1.1 per cent from $1.15bn to $1.16bn (£830m). Net profit also remained virtually flat, rising by just half a per cent in 2015 to $413.5m.

Weil’s 2015 figures are still far below its 2013 revenue figure, which stood at $1.23bn.