O’Melveny & Myers Sees Revenues, Profits Drop

Los Angeles-based O’Melveny & Myers announced that profits per partner were down more than 7% to $1.5 million. Gross revenues for 2008 were $908 million, an almost 3% drop from the prior year.

O’Melveny lost two high profile partners this winter. The co-head of restructuring, Michael Sage, joined Dechert in mid-January. And white collar practice group head James Asperger left O’Melveny for Quinn Emanuel Urquhart Olver & Hedges last week.

But the firm also recently announced that it had recruited Kenneth Wainstein, a white collar specialist and former homeland security adviser to the Bush administration. O’Melveny also added Dean Collins, a former director at private equity investor Actis, to the firm’s Singapore office.

Melveny & Myers LLP is the 19th largest law firm in the world, and lauded by Vault as one of America’s top twenty most prestigious law firms.

• Partners Come and Go at O’Melveny
• Profits and Revenue Down at O’Melveny for Second Year Running
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• Revenues and Profits Down at Schulte
• Fried Frank Profits Down Double-Digits

Posted by Erik Even on February 12, 2009. Filed under Home,Law Firm News,Legal News. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry