O’Melveny & Myers has overtaken Los Angeles rivals Gibson Dunn & Crutcher in turnover and Latham & Watkins in profitability after posting record figures for 2003.

The firm saw the biggest increases of any of the four major Los Angeles outfits, with 2003 revenues up by 16% to $658m (£349.1m), against the previous year’s figure of $565m (£299.8m).