Revenue down, profits up at Cadwalader
Cadwalader, Wickersham & Taft reported a 28 percent increase in profits per partner, the firm's first positive results since 2007.
Cadwalader's gross revenue reached $456.5 million in 2009, down almost ten percent from 2008, while net income increased slightly to $147 million. Profits per partner hit $2.41 million, up 28 percent.
Some of the increase in its average partner earnings is attributable to a loss of one in five equity partners.