Shearman & Sterling saw partner profits remain static at $1.56m (£993,000) in 2011, while revenue inched up 2% to $750m (£477m), reports The Am Law Daily. Despite a strong first half of the year, the firm began to suffer a general slowdown in transactional work amid the explosion of the Greek debt crisis in August, said senior partner Rohan Weerasinghe.
February 23, 2012 at 11:17 AM
1 minute read
The original version of this story was published on Legalweek
Shearman & Sterling saw partner profits remain static at $1.56m (£993,000) in 2011, while revenue inched up 2% to $750m (£477m), reports The Am Law Daily.
The US firm’s London office saw a 5% uptick in revenues during the year, up to $109.2m (£69.2m) from 2010′s figure of $104.2m (£66m). Lawyer headcount in the firm’s City arm also rose slightly, from 109 fee earners in 2010 to 115 at the end of the 2011 calendar year.
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