In London, revenue ticked up 1% to £77.7 million, after nearly 50% growth in the office in 2021. In Asia, the firm continues to have a strong fund formation practice in China and Hong Kong, as well as an increasingly active practice in Singapore, CEO Joe Conroy said.
March 23, 2023 at 01:26 PM
6 minute read
The original version of this story was published on American Lawyer
On the heels of layoffs in December, Cooley saw double-digit declines in net income and profits, though revenue inched up 1% to break past the $2 billion mark in 2022.
Net income fell 16.8% to $806 million, leading the firm’s profit margin to dip nine percentage points. With more equity partners, the firm’s profits per equity partner fell 19.6% to $3.27 million.
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At Cooley’s new offices at Hudson Yards, CEO Joe Conroy stands in his favorite place in the office, with a view of the Empire State Building behind him. (Photo by David Handschuh/NYLJ)
