Shearman & Sterling has posted a 4.9% dip in revenues to $876m (£608m) for 2008, along with a 9.6% fall in profits per equity partner to $1.665m (£1.15m). The percentage declines recorded by Shearman were similar to those reported by Skadden Arps Slate Meagher & Flom and in the middle of the pack for major New York firms that have so far posted their results."It was the second-best year in the firm's history," said senior partner Rohan Weerasinghe. "That we did as well as we did is a testament to the strength of our platform globally."Shearman is more global than some of its US peers, with 45% of its lawyers based overseas, but less diversified in its practice mix, with only 22% of its revenues deriving from litigation.
February 19, 2009 at 12:51 AM
1 minute read
The original version of this story was published on Legalweek
Shearman & Sterling has posted a 4.9% dip in revenues to $876m (£608m) for 2008, along with a 9.6% fall in profits per equity partner to $1.665m (£1.15m).
The firm’s London office posted a 14.1% drop in revenue, down from $132.6m (£94.6m) in 2007 to $113.8m (£79.1m).
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