Debevoise Sees 20%-Plus Rise in 2007 Revenue & Partner Profit
Debevoise & Plimpton has announced stellar financial figures for 2007, reporting a rise of more than 20 percent in both the law firm’s overall revenue and its profit per equity partner.
A 26.5 percent increase brought PEP at the New York-based firm to $2.29 million last year. Meanwhile, global revenue grew by 23.4 percent to $709.5 million, reports Legal Week.
Although the firm is known for its mergers and acquisitions and private equity work, an unnamed partner tells the Lawyer that excellent results throughout the firm rather than a boom in one or two practice areas brought in the big bucks.
“The astonishing part, if there is one, is that all aspects of our practices, across all offices, had strong performances,” this partner says. “The markets were very strong and we were well placed across all our practices and offices to respond to those opportunities.”
These Debevoise numbers are among the strongest financial results reported by any major U.S. law firm for 2007, according to the two British legal publications.
