King & Spalding broke the billon-dollar mark in revenue last year – the first Atlanta-based firm to do so – reporting revenue of $1.02bn (£696m), a 9% increase over 2014.

Net profit increased 12% to $447.6m (£305.4m), which pushed profit per equity partner to just over the $2.5m (£1.7m) mark -another first for King & Spalding.