US firm Milbank proved a strong force in the City last year as it recruited a string of magic circle partners for its London base.
Linklaters projects partner Clive Ransome was the latest to join the US firm’s London office last year. Ransome, who has acted for Korea’s LG Chem and US Fortune 200 company AES Corporation on petrochemicals and power deals, followed in the footsteps of corporate partner Mark Stamp, who joined Milbank from Linklaters earlier in 2012. The hire also followed Milbank’s recruitment of competition partner Nicholas Spearing from Freshfields Bruckhaus Deringer in June 2012.
In terms of financials, the firm's London revenue rose by 10 per cent in 2011, to $65.30m. It marked a stellar year for the firm outside the US, where for several years it has been growing faster than in its domestic heartland. Firmwide revenue stood at $647m in 2011.
The firm's 2012 financial results had not been announced at the time of writing.