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Despite promoting 10 London-based partners over the course of the year, profits per equity partner (PEP) climbed by 19% from $1.28m (£650,000) to a new high of $1.53m (£780,000).
The improvement in revenue almost matches the 38% growth notched up by the firm’s City operation the previous year and means White & Case has achieved an annual growth rate of 34.5% over the last five years.
He commented: “We were especially pleased with the fact that all different practices contributed extremely well to producing that growth.”
However, Finlay warned that tougher market conditions meant the firm’s City arm – which currently numbers around 350 lawyers, including 81 partners – was unlikely to match its current growth rate in 2008.
He added: “Our year has only just started but if I were to hazard a guess, a 5-10% growth is expected.”
Meanwhile, Boston-based Bingham McCutchen achieved a modest 4% hike in revenue for its City arm in 2007, improving from $31.2 (£15.93m) to $32.5m (£16.6m). However, PEP improved more dramatically, up 21% from $1.45m (£740,000) to $1.75m (£890,000).
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