New York-based international law firm Cleary Gottlieb Steen & Hamilton saw both revenue and profits per partner rise in 2008.
Gross revenue rose 8% to $965 million, and profits per partner increased about 12% to $2.4 million.
But revenue per lawyer was basically flat, down less than 1%.
Nearly half the firm’s lawyers are overseas, helping to cushion the blow from the dramatic slowdown in the United States
Cleary advised the SEC and Federal Reserve Bank of New York during the collapse of Lehman Brothers. It then advised Barclays in its acquisition of Lehman Brothers’ North American investment banking and capital markets businesses.
The firm employs over 900 lawyers globally.
Posted by Erik Even
on January 17, 2009. Filed under Home,Law Firm News,Legal News.
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