Firm reports 6.8% fall in partner profit as revenue also declines 3.7% while McDermott also reports dip in revenue
February 08, 2016 at 05:26 AM
1 minute read
The original version of this story was published on Legalweek
Partner profit at Cadwalader Wickersham & Taft declined 6.8% to $2.06m (£1.4m) in 2015 as gross revenue fell 3.7% to $463.5m (£319.4m), reports The American Lawyer.
Revenue per lawyer also took a hit, dropping 2.8% to $1.04m (£717,000). The firm added 11 new lateral partners last year, but overall lawyer headcount decreased from 452 to 448.
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