Dechert’s London office saw the biggest growth in the entire network amid global revenue growth of 3 per cent to $911.6m.
The firm’s City office saw turnover rise by 28 per cent when calculated in sterling. However, the firm declined to provide London revenue figures on a like-to-like basis.
Dechert reports its global financials figure in US dollars, with London growth expected to be less when taking currency fluctuations into account.
Amid global revenue growth of 3 per cent from $890.2m to $911.6m, Dechert’s average profit per equity partner (PEP) nudged up 2 per cent over 2016 to $2.55m.
The slight increase followed PEP growth of 8.5 per cent over 2015 from $2.32m to $2.5m.
Revenue per lawyer fell below the $1m mark to $995,000, with the total number of lawyers growing 4 per cent from 884 to 916 worldwide.
A total of 612 lawyers at the firm are male, while women account for 303 of the total headcount – equivalent to 33 per cent. In 2015, female lawyers made up 32 per cent of global lawyer headcount.
London has boosted its total lawyer headcount by three in the last financial year, with partner hires including Ross Allardice and John Markland from White & Case and Kirkland & Ellis. DLA Piper finance heavyweights Philip Butler and David Miles also joined at the end of last year.
This is the first financial year under new CEO Henry Nassau. He took over leadership of the firm from Daniel O’Donnell last July.
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