Mayer Brown invreases revenue by 2.4%
Mayer Brown has increased its revenue by 2.4 per cent – after two years of falling revenues. The figures will be some relief for the firm after dropping 14 per cent in 2009 and a further 1 per cent in 2010.
In 2011 the firm’s turnover rose to $1.13bn, while profits per partner rose 10 per cent to $1.18m.
Global chair Bert Krueger says the improved showing was largely due to a sustained increase in activity firmwide during the first half of the year. "We had a really strong first half, but like a lot of firms had a more modest second half," he said. "Overall we're pretty pleased with our performance."
Mayer Brown's lawyer headcount fell again in 2011, dropping 7% to 1,523 - the fewest the firm has employed at any time since 2007. The firm also reduced its partnership by 4 per cent, with 22 departing to leave behind a partnership of 585.