White & Case has posted a 3.7% drop in its London revenues for the financial year ended December 2019, as it nears the end of its ambitious five-year plan to grow its international business.

Revenues for the firm’s London office stand at $337 million, with the firm’s London managing partner Melissa Butler attributing the dip in turnover to the “general political and economic turmoil resulting in a decline in M&A and IPO volumes” seen in the market in 2019 — two areas in which the firm has invested in more recently.