LeBoeuf Lamb Greene & MacRae’s London office has continued its rapid growth, posting a 35 per cent increase in turnover for 2006.
LeBoeuf’s London office recorded a $66m (£33.52m) revenue figure for the 2006 calendar year, up from the $48.8m (£24.79m) it posted in 2005. It marks the third successive year that the London office has increased revenue by at least 30 per cent.
London managing partner Peter Sharp said the result was “on track”, adding: “We’ve been pursuing a growth strategy and it’s great to see the increases necessary to indicate the growth strategy is working.”
Firmwide, LeBoeuf’s total revenue was $513.7m (£260.53m), a 16.75 per cent increase on the 2005 figure of $440m (£223.15m).
The firm has built an impressive reputation in London for an aggressive lateral hiring policy to flesh out the practice areas surrounding its core insurance and energy practices. The firm has hired extensively from Freshfields Bruckhaus Deringer, while also recruiting from Linklaters, Norton Rose and Denton Wilde Sapte.
The firm also added Dewey Ballantine rainmaker Camille Abousleiman in January, who is understood to have brought a $15m (£7.61m) book of business.
LeBoeuf’s average profit per equity partner grew by 8 per cent in 2006 to $1.43m (£725,200). “We’re nowhere near seeing the full impact of our growth,” Sharp said. “The people we hired in 2006 will feed through in 2007 and we’ll continue to grow.”
LeBoeuf announced plans last December to open in Hong Kong during 2007, with Dubai and Rio de Janeiro also possibilities.
Sharp, who is a member of the firm’s executive committee, said: “Asia is a very important region for the whole firm, but we have a sensible shopping list of improvements we want to make to our US practices.”