K&L Gates has announced a 27 per cent increase in global revenues for the last financial year.
The firm hiked revenue from $755.2m in 2007 up to $959.4m in 2008. Profit per equity partner (PEP) saw a 6.7 per cent increase during the same period, from $800,100 up to $853,900.
K&L Gates chairman and managing partner Peter Kalis said: “2008 was a year of extraordinary challenge and opportunity. On three continents, our partners leaned into the wind and moved forward. I hardly qualify as objective, but out partnership is an extraordinarily resourceful, resilient and client-focused group. They will carry the same traits forward into 2009.”
The US firm was highly acquisitive in 2008, including a deal with Chicago-headquartered 235-lawyer firm Bell Boyd & Lloyd which is due to go live later this year.
K&L Gates global network also saw significant growth. In May The Lawyer reported on the firm’s tie-up with Taiwanese firm J&J Attorneys at Law ( 14 May).
The firm also launched offices in Paris and Shanghai during 2008.
A range of US firms have announced 2008 results this month. Yesterday The Lawyer revealed Weil Gotshal & Manges reported a 4 per cent revenue hike for the last financial year, from $1.18bn in 2007 up to $1.23bn last year (20 January).