Global revenue grew by 9.4% to $921m (£471m), up from a mark of $842m (£430m) in 2006. Profits per equity partner (PEP), meanwhile, were up 11.9% to a new mark of $1.847m (£944,000), compared to $1.65m (£843,000) in 2006.
The previous year had seen PEP improve by 12% against a modest 1% rise in fee income.
Shearman’s
Highlights for the firm’s City team included advising Borsa Italiana on UK aspects of its £1.1bn acquisition by the London Stock Exchange, acting as US counsel to Royal Bank of Scotland on its bid for ABN Amro and advising Corus on its takeover by Tata Steel.
The office was boosted with the lateral hires of Ian Harvey Samuel and Lois Moore from Freshfields Bruckhaus Deringer at the end of 2006 and Jacques McChesney from Latham & Watkins in late 2007.
“The coming year will no doubt bring challenges but with the firm’s global reach and service capability we are still best placed to provide our clients with the ongoing exceptional level of service that we consistently provide.”