Law Firms

Dewey & LeBoeuf

Dewey breaks $1bn in first post-merger results

Author: Sofia Lind

Published: 26/02/2008 10:11

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Dewey & LeBoeuf has become the latest US firm to break the $1bn (£510m) turnover mark after unveiling its financial results for 2007.

The New York-headquartered law firm posted total revenues of $1.008bn for the last 12 months, whilst raking in average partner profits of $1.57m (£798,000).

These figures mark the first set of results since the merger of legacy firms Dewey Ballantine and LeBoeuf Lamb Greene & MacRae went live in October 2007, creating a Manhattan giant with more than 1,400 lawyers in 13 countries.

In 2006, Dewey Ballantine posted revenues of $408.5m (£207.6m) and profits per equity partner (PEP) of $1.45m (£737,000).

LeBoeuf, meanwhile, billed $513.5m (£260.9m) in 2006, while PEP was a fraction lower than that of its merger partner, standing at $1.425m (£724,000).

Commenting on the results, Dewey chairman Steven Davis said: “In an extraordinary year marked by our recent combination, we are pleased to be one of only a handful of firms to surpass the billion-dollar turnover mark.

“These results are not only a testament to the hard work of our lawyers, but are also indicative of our continued success as a combined firm.”

The results come with Dewey last month announcing plans to launch a new office in Dubai with the hire of a two-partner team from rival US firm Akin Gump Strauss Hauer & Feld, as reported by legalweek.com on 4 January.

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