Financial news

DWF in discussions with lenders over COVID-19 impact

DWF has braced its investors on the impact of the coronavirus on its business, highlighting that will seek additional contingency facilities from its lenders. The firm said this was needed to ensure it has “increased headroom for working capital purposes and a relaxation of certain covenants for a period of time.” It already has an […]

London skyline

Kirkland reaches $4bn turnover for first time

Kirkland & Ellis has crossed the $4bn revenue mark, becoming the first global law firm to do so. The US firm has grown its revenues by just over 10 per cent to hit $4.1bn from last year’s $3.76bn figure. While Kirkland does not release its financial figures for London, The Lawyer understands the office expanded […]

Bryan Cave Leighton Paisner, BCLP

BCLP sees revenue fall in first year as merged firm

Bryan Cave Leighton Paisner (BCLP) has seen a 2 per cent revenue decrease in its first full financial year as a merged firm. Combined revenue dropped from over $900m to $874m. Net cash balance stood at $86m, while profit per equity partner was around $833,000. The firm said, however, it recorded a revenue increase across […]

US financials: Fried Frank PEP soars to nearly $3.8m

Fried Frank Harris Shriver & Jacobson has reported a double-digit increase in both revenue and average profit per equity partner over 2019, as the latter increased to nearly $3.8m. PEP soared by 16 per cent from $3.27m, while profits overall rose to $393m. Its revenue worldwide was up by 13 per cent, increasing from $684m […]

Arun Birla, Paul Hastings

Paul Hastings City revenue soars past $100m mark

After a string of finance and corporate mandates in 2019, Paul Hastings’s London office has soared past the $100m revenue barrier for the first time. The Los Angeles-based firm recorded a 16 per cent increase in revenue from $92.4m to $107.2m last year, while global growth was more muted than in 2018, with worldwide revenues […]

dollars money roll

Shearman & Sterling continues push towards $1bn global revenue

Shearman & Sterling’s revenue reached $968m in 2019 as the firm continues its laboured rise towards $1bn. Last year’s turnover represents a 1.3 per cent increase on its 2018 revenue, when Shearman’s global results showed 5 per cent growth to $955.5m. Meanwhile, the firm’s average profit per equity partner (PEP) was $2.5m, a modest rise […]

Reed Smith’s City turnover nudges up by 3 per cent

The revenue of Reed Smith’s London office has increased to $215m, as the US firm marked its third year of global financial growth after a challenging couple of years. In 2019, London’s revenue rose by 3 per cent from $208m to $215m, while global revenue grew by a healthy 6 per cent, rising to $1.2bn. […]

Richard Trobman, Latham

US financials: Latham’s global turnover rises by $380m

Latham & Watkins has secured a second year in a row of double-digit growth, as the firm edges ever closer to the $4bn revenue mark. In his first full year as chair of the firm, Richard Trobman has taken Latham to the record revenue of $3.77bn in 2019, up 11 per cent from 2018’s $3.39bn. […]

financial

Mayer Brown’s revenue nears $1.5bn after 7 per cent growth

Mayer Brown reported a 7 per cent increase in its global revenue last year, bringing it just under the $1.5bn figure. The Chicago-based firm’s top line increased from $1.38bn to $1.48bn last year, a similar percentage to its average profits per equity partner, which rose to $1.8m, a 6 per cent increase from 2018’s figure. […]

New York City

Debevoise breaks $1bn globally and $150m in the City

Debevoise & Plimpton has broken through the $1bn revenue barrier for the first time after posting record financial results for 2019. Firm-wide turnover rose by 13 per cent from $929.3m to a new high of $1.05bn in a year that saw all of the key metrics head north. In a year when the firm confirmed […]

White & Case

White & Case reveals uncharacteristic dip in London turnover

White & Case’s London revenue decreased by four per cent last year, while globally the firm recorded a rise in its financials to hit $2.2bn. Revenues at the firm’s UK outpost were $337m in 2019, a 3.7 decrease from the 2018 figure of $350m. Globally though turnover rose by 6.6 per cent to $2.2bn. Its […]

Hogan Lovells adds £30m to top line in City financials

Hogan Lovells’ London office revenue increased by 10 per cent over 2019, while global growth was also promising in Steve Immelt’s final year as CEO. The firm reported revenue of £332.6m in London in 2019 after breaking the £300m barrier over 2018, when it grew by just 2 per cent to £301.9m. Globally, Hogan Lovells’ […]

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