Cadwalader revenue shrinks 2.5% following office closures and partner exits

Partner profits inch up as firm targets tighter core focus

Cadwalader-Office-Sign

Cadwalader Wickersham & Taft saw its revenue decline in 2016, amid partner defections and office closures. But managing partner Patrick Quinn pointed to higher profits as a sign that the firm’s tighter focus on core clients and practices is paying off.

Profits per partner, after dropping consecutively for three years, rose 2.7% in 2016 to $2.115m (£1.69m). Gross revenue fell by 2.5% to $452m (£360.9m) last year, according to preliminary American Lawyer reporting.

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