After a down year in 2010, Shearman & Sterling saw profits per partner hold steady at roughly $1.56 million in 2011, while its gross revenue inched up less than 2 percent to $750 million and its revenue per lawyer ticked down less than 3 percent to $900,000, according to The American Lawyer’s reporting.
Despite a strong first half of the year, Shearman began to suffer a general slowdown in transactional work with the explosion of the Greek debt crisis in August, says senior partner Rohan Weerasinghe. “Overall, I’m very pleased with revenue increasing in what was a challenging, bifurcated year,” Weerasinghe says.
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