Mayer Brown, Winston unveil strong '07 figures

Mayer Brown and Winston & Strawn have unveiled their financial results for 2007, with the US duo both registering significant growth in the last year.

Mayer Brown saw both revenue and partner profits increase by 9%, with turnover at the top 10 US firm rising from $1.084bn (£550.4m) in 2006 to a new mark of $1.183bn (£600.6m).

Profits per equity partner (PEP) moved to $1.24m (£629,000) in 2007, up from $1.14m (£577,000) for the year before.

The results come after a major push in Asia by Mayer Brown, which earlier this year completed a tie-up with Hong Kong leader Johnson Stokes & Master,

Winston saw revenues increase by 14% in 2007, reaching $697.4m (£354.0m), compared to $612m (£311m) in 2006.

PEP increased by 6.5% at the Chicago firm to hit $1.28m (£649,000), up from last year's figure of $1.20m (£609,000).

Last year Winston settled a claim brought by a New York partner who claimed the firm had broken a deal to exempt him from the 'decompression' policy that sharply reduced partners' pay after age 65.

Winston and Mayer Brown join a clutch of major US firms to have posted robust financial results for 2007, with Los Angeles giant Latham & Watkins emerging as a star performer. Latham notched up revenue growth of 23% to break the $2bn (£1.03bn) barrier, with PEP soaring to a new high of $2.27m (£1.17m).

More news, deals and comment on Mayer Brown

Editors' Blog: The Unpredictable States of America

For thousands of the best legal jobs, click here.