White & Case’s London office has reported a staggering 67 per cent increase in profit per equity partner (PEP).
The office bounced back from its disappointing profit results in 2005 to record a PEP of $1.28m (£693,000) in the year to 31 December 2006. The results follow a 24 per cent drop in PEP in 2005 to $764,000 (£420,000), down from $1m (£571m) in 2004, due to several lateral partner hires and the firm’s new offices, which it moved to in 2004.
London senior partner Peter Finlay said last year’s figures were the result of tight cost controls and “growth in revenues across all practice areas”.
The office posted a 38 per cent increase in revenue to hit $172.2m (£93.59m), up from $124.7m (£68.52m) in 2005. Finlay said the office was now targeting a “more measured” 20 per cent growth in 2007.
White & Case also reported impressive results globally, with a turnover of $1.19bn (£646.74m), and global PEP of $1.5m (£815,000).