Revenue and PEP up almost 10 per cent at Cleary

Revenue at Cleary Gottlieb Steen & Hamilton rose 8 per cent during the 2008 financial year while profit per equity partner (PEP) was up 9 per cent.

PEP at Cleary was $2.33m last year compared with $2.14m in 2007, sources indicate, while global revenue at Cleary increased to $961m, up from $890m in 2007.

Cleary advised on a number of high profile mandates in 2008. Last year The Lawyer reported on the firm advising the US Treasury on the $20bn bailout of Citigroup (24 November).

Earlier in the year Paris-based partner Pierre-Yves Chabert advised BNP Paribas on its EUR14.5bn offer for Benelux bank Fortis (6 October).

The firm declined to comment.