Orrick Herrington & Sutcliffe’s London office has reported a 14.3 per cent revenue hike for the 2008 financial year.
The US firm increased revenue in the capital from $35m in 2007 up to $40m for the last financial year. London’s total revenue represents 4.8 per cent of the firm’s total 2008 turnover of $835m.
Earlier this week The Lawyer reported on Orrick’s 8 per cent global revenue increase from $772m in 2008 up to $835m last year. The firm also reported a drop of 20.8 per cent drop in profit per equity partner (PEP) from $1.66m to $1.315m.
Orrick London managing partner, Martin Bartlam, said: “Given the extremely difficult market conditions in 2008, we are pleased that the London office managed to significantly improve on our revenues particularly given that 2008 had itself seen significant growth in revenues from prior years.”
The firm made significant investment into its global network in 2008. Last year The Lawyer reported on Orrick hiring a group of lawyers from dissolved firm Heller Ehrman, including corporate partners Chris Grew, Struan Penwarden and Richard Eaton (28 October).