White & Case sees turnover rise and PEP fall in 2011

White & Case has posted a 4 per cent rise in turnover for 2011 as global profit per equity partner (PEP) dropped by 5 per cent.

Hugh Verrier
Hugh Verrier

Global revenue at the firm was $1.33bn (£834.5m), up from $1.28 in 2010. Revenue per lawyer was roughly static at $700,000, down slightly from £705,500.

Global PEP, meanwhile, was $1.475m, falling from $1.6m in 2010.

According to the firm, performance in London matched the firm’s global stats, though no figures were given.

In a statement, White & Case chairman Hugh Verrier said: “Considering the investments we made in 2011, we’re satisfied with our results. We need to have the right people in the right places to deliver for our clients, and our investments in key markets and practices are just beginning to pay off.”

London executive partner Oliver Brettle added: “In recent years, we’ve made substantial investments in our business, and 2011 was no different. Last year, we added 59 partners globally – with 14 new partners in London – focusing on our key strategic priorities for growth, including capital markets, M&A and disputes. Making strategic investments now to prepare for the future is what we believe is right for the firm.

“The London 2011 results tracked the firm’s overall results with revenue increasing in London.  Our PEP in London was strong but, as a global law firm, the figure that matters is the global PEP.”