Milbank’s London revenue climbs 6 per cent to £77.5m

Milbank Tweed Hadley & McCloy’s London office has increased revenue by 6.3 per cent, while the firm saw turnover globally nudge up 1.4 per cent.

The firm’s City base generated revenues of $110.2m (£77.5m) over 2015, growing from $103.7m in the previous financial year.

In total Milbank’s London office contributed 14.3 per cent of the firm’s global revenue, which grew from $761m to $771m (£542m) last year.

Average profit per equity partner (PEP) also increased, but by just under 1 per cent to $2.76m (£1.94m).

The results contrast with the firm’s 2014 financial figures, which saw global revenue grow by nearly 8 per cent while PEP climbed 7 per cent.

In London last year, Milbank hired Clifford Chance aviation partner Nick Swinburne to co-head its transport and space group, as well as Linklaters projects partners Matthew Hagopian and Manzer Ijaz.