Figures unveiled by Cadwalader today (5 February) show average profits per equity partner (PEP) at $2.72m 9£1.37m) for 2007 – a fall of 6% from the previous year’s mark of $2.9m (£1.48m).
Overall revenue at the firm increased marginally, edging up by 5% to reach $587m (£299m) from $556m (£283m).
Net profits at Cadwalader stood at $207m (£105m) to be shared between the firm’s 76 equity partners. In addition, the firm’s 28 non-equity partners shared a further $18.5m (£9.4m).
The news comes with Cadwalader having made a series of cutbacks in recent weeks.
Last month the firm axed 35 structured finance lawyers in the
The firm also made a round of redundancies in
Meanwhile, fellow US law firm Wilmer Cutler Pickering Hale and Dorr has announced its own financial figures for 2007. Turnover increased by 5.2% to a new high of $944m (£480m), while PEP improved by almost 9% to reach $1.06m (£538,480).
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