Shearmans knocks spots off other US City offices

Shearman & Sterling's London office is by far the biggest biller of the top-five US practices in London, according to research by The Lawyer.

In the first ever turnover survey of the five largest London offices of US firms, Shearmans reveals a much larger turnover for 2000 than its rivals. Its lawyers billed £7.3m more than those of its nearest competitor Weil Gotshal & Manges, which had a £37.7m turnover. At £45m, this is £2m more than UK firm Theodore Goddard's entire turnover.
Most significantly, the office's fees per fee-earner for 2000 hit £437,000, outstripping even Slaughter and May's figure for 1999-2000 of £401,000. And Shearmans' London office has grown from 103 lawyers this time last year to 126.
White & Case is understood to have billed £21m for 2000, but that figure is low because Maurice Allen's banking team did not join from Weil Gotshal & Manges until half way through the year.
Weil Gotshal's turnover jumped from £28.8m for 1999 to £37.7m, an increase of 31 per cent, despite the departures to White & Case.

Top-five US practices in London
Firm Turnover (£m) Fees per fee earner (£K) Partners/total fee earners
Dechert 37.4 297 49/208
Shearman & Sterling 45 542 20/134
White & Case 21 263 27/127
Weil Gotshal & Manges 37.7 303 23/112
Reed Smith Warner Cranston 13.7 232 27/78