Four leading NY firms post increased revenues in 2011
Four of the top New York law firms posted their financial results for 2011, with all four showing an increase in revenues.
Skadden Arps Slate Meagher & Flom recorded a 3 per cent increase to $2.17 billion, while profits per partner (PEP) rose 7 per cent to $2.48 million. Cleary Gottlieb Steen & Hamilton saw the biggest rise in revenue among the four, increasing takings by 7 per cent from $1.05 billion in 2012 to $1.125 billion in 2011, while PEP rose 3 per cent to $2.7 million.
Meanwhile, Simpson Thacher & Bartlett’s revenue rose 4 per cent last year to $963 million, while PEP increased marginally from $2.64m to $2.66 million. And revenue at Davis Polk & Wardwell rose 5 per cent from $870 million in 2010 to $910 million 2011, while PEP also grew 5% to $2.3 million from $2.2 million.
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