Revenues Down at Shearman & Sterling
Download PDF

Shearman & Sterling reports a 4.9% drop in revenues to $876 million for 2008, and a 9.6% fall in profits per equity partner, to $1.665 million. Revenue per lawyer remained above the million-dollar mark.

The declines posted by Shearman were similar to those reported by Skadden, Arps, Slate, Meagher & Flom, and pretty average when compared to major New York firms that have posted their results.

Shearman is more global than some of its peers, with 45 percent of its lawyers overseas, but less diversified in its practice mix, with only 22 percent of its revenues deriving from disputes.


One bright spot is the Abu Dhabi office, which is doubling in size. Another is Latin American project finance. A third bright spot is the arbitration group whose top clients are among the world’s most litigious.

Shearman represented Merrill Lynch in its acquisition by Bank of America; and the firm is helping BofA to unwind its derivative contracts with Lehman Brothers.

Get JD Journal in Your Mail

Subscribe to our FREE daily news alerts and get the latest updates on the most happening events in the legal, business, and celebrity world. You also get your daily dose of humor and entertainment!!


Most Popular

Legal Career Resources

October 19, 2016 Not Everyone Is Fit to Work in a Law Firm

Summary: Law firm work is not meant for everyone no matter what kind of credentials you have, so figure out now if you should be pursuing another career. Read Three Simple Ways to Tell If You Should Work (or Continue […]

read more


To Top