Orrick’s profits boosted by Coudert raids

Orrick Herrington & Sutcliffe has reported a 14 per cent increase in profits per partner (PPP) to reach £703,000 ($1.24m) in 2005.

Turnover increased by 14.5 per cent to £31.4m ($554m) in 2005, up from $484m the previous year, while average revenue per lawyer rose to £425,000 ($750,000).

The San Francisco-based firm’ success will be a bitter pill for Coudert Brothers, which fell frequent victim to raids by Orrick throughout 2005 as part of its aggressive expansion campaign.

In May Orrick doubled the size of its London practice through the acquisition of Coudert’s entire London office, comprising eight partners and 65 staff.

Orrick also raided Courdert’s China practice in September, resulting in the hire of nine of the troubled firm’s eleven partner-strong practice

Similar raids occurred on Coudert’s Moscow and French arms. The French hires followed Orrick’s merger with 70-strong corporate powerhouse Rambaud Martel in November.