Weil Gotshal & Manges‘ European operation has nearly doubled its turnover over the last financial year, outstripping the firm’s revenue growth in the US.
The firm has seen total billings jump by 40 per cent to $110m (£67.9m) for 2002, compared with 2001’s $79m (£48.7m).
Overall turnover jumped by 18 per cent to $688m (£424.5m) for 2002, bolstered mainly by the firm’s astounding dominance of the US restructuring market, handling deals such as Enron and Global Crossing, among others.
Sidley Austin Brown & Wood, which has a London office and a minimal presence in Geneva, recorded a 28 per cent jump in European billings to $50.7m (£31.3m) for 2002. Firmwide revenue rose by 16 per cent to $830m (£512.1m).
Skadden Arps Slate Meagher & Flom has seen European revenue increase by 12 per cent to $131m (£80.8m), while overall turnover leapt by 17 per cent to $1.4bn (£863.8m).
Shearman & Sterling‘s European turnover edged up just 7 per cent to $214.5m (£132.3m), compared with a 13 per cent increase in worldwide revenues, totalling $700m (£431.9m).
Weil Gotshal’s European practice has seen some activity in corporate – for example its role on Credit Suisse First Boston Private Equity’s and Blackstone Capital Partners’ secondary buyout of Nycomed. However, it was Poland that produced one of the largest deals of the year, involving the restructuring of the country’s second-largest telecoms operator Netia.