Reed Smith smashes revenue target in double-merger year

January 9, 2008 US firm Reed Smith has broken the $1m average profit per equity (PEP) partner barrier and smashed its revenue target with a solid set of year-end financial results at the end of a year, which has witnessed two large mergers. PEP rose 6.3 per cent from $941,000 to just over $1000. With the added income from the Richards Butler merger in the UK and the combination with Chicago's Sachnoff & Weaver, turnover shot up 39 per cent from $644m to $892m.

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