Click here to access full coverage of McDermott Will & Emery in The Lawyer Asia Pacific 150 2014. The report is an essential business intelligence resource for anyone interested in Asia-Pacific's growing legal services market.
McDermott Will & Emery’s 2012 results revealed a dip in profit but a rise in revenue, with global profit per equity partner dropping 2.7 per cent to $1.46m while gross revenue bumped up 3 per cent to $851m.
But the firm is clearly in expansion mode with 54 lateral partner hires in 2012, more than double that of the previous year, according to the firm’s annual global performance data.
The increase in lateral hires was partly boosted by the collapse of Dewey & LeBoeuf in 2012, a breakdown that triggered a hiring frenzy among US firms.
In Europe, for example, McDermott hired Dewey & LeBoeuf private equity duo Mark Davis and Russell Van Praagh for its London office, as well as a capital markets team, led by partners Philipp von Ilberg and Joseph Marx, from Dewey’s Frankfurt base.
Other hires in Europe included senior KPMG tax partner Tom Scott to the head of its London tax department and Weil Gotshal & Manges public law specialist Sabine Naugès, Jones Day of counsel Jacob Grierson and a team of three senior lawyers from Orrick Rambaud Martel to bulk up the firm’s Paris offering.
While McDermott does not break its financial results down by office, London managing partner Hugh Nineham said there was “a careful and deliberate growth initiative under way”, with private equity continuing to be a key area of focus.
Key mandates for the City office last year include advising the owner of Pom-Bear crisps, Intersnack Group, in its acquisition of Hula Hoops maker KP Snacks.