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Profits Per Partner Up 10 Percent at Allen & Overy
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Allen & Overy reported this week that its profits per partner increased 10 percent to $1.7 million for the year-period ending April 30. Additionally, the firm announced it was opening an office in Indonesia in association with the Jakarta-based Daniel Ginting law firm.

The Indonesia office gives London-based Allen & Overy a presence in 26 countries through 36 offices.

The firm said it had revenue of $1.6 billion for the year, which is down 4 percent from the previous year.  The number of equity partners in the firm fell by 39 to 450 and the firm’s overall profit fell less than 1 percent.

  
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Managing partner Wim Dejonghe praised the performance of the firm in a press release.

“We have made strategic choices to secure future growth, and in doing so have built resilience into our business, enhanced our global reach and diversified our practice area mix,” Dejonghe said.

Allen & Overy’s banking, litigation, regulatory, restructuring and emerging markets practices were the strongest in the past year, the firm said. Allen & Overy is based in London and has over 2,000 attorneys.

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