Freshfields Bruckhaus Deringer's high-stakes restructuring has helped propel the U.K. giant's bottom line to record levels, with profits per equity partner surging nearly 40 percent to hit 1.44 million pounds ($2.82 million). The performance will be seen as a vindication of the dramatic restructuring of its partnership in 2006, which ultimately saw the firm shed more than 60 partners from its equity. On average over the past year the firm had 415 equity partners, down from more than 500 in May 2006.
June 02, 2008 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
Freshfields Bruckhaus Deringer‘s high-stakes restructuring has helped propel the U.K. giant’s bottom line to record levels, with profits per equity partner (PEP) surging nearly 40 percent to hit 1.44 million pounds ($2.82 million).
The Magic Circle law firm saw PEP rise by 405,000 pounds ($794,300) in 2007-08, climbing 39.2 percent from 1.03 million pounds ($2.03 million) achieved in the previous 12-month period.
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