Dechert LLPs highlight 2008 UK revenue drop-off as international offices hold steady
Dechert's LLP accounts have revealed that the firm's UK office saw a £9m drop in fee income during 2008, against a slight increase in turnover for its international network. Over the year the international firm's London base brought in £21.1m in fee income, a decrease on the office's 2007 performance of £30.5m.
January 22, 2010 at 09:35 AM
2 minute read
Dechert's LLP accounts have revealed that the firm's UK office saw a £9m drop in fee income during 2008, against a slight increase in turnover for its international network.
Over the year the international firm's London base brought in £21.1m in fee income, a decrease on the office's 2007 performance of £30.5m.
The firm said the drop in fee income for its UK business was due to a decrease in the number of clients doing business in the region.
Fee income for the firm's international network of offices stood at £27.4m in 2008, marginally up from 2007 when the firm took in £26.8m in turnover.
The accounts also show that Dechert's highest-paid member took home £3.01m in 2008, a similar figure to that seen in 2007.
During 2008, the firm's UK partnership paid in £4.4m into the firm's business after injecting £3.4m in 2007. The firm said that every office in its network pays a sum of money back into the business for services that the US provides, with each office paying a separate amount dependent on number of lawyers.
Staff numbers remained relatively stable between the two years, as did staff costs, with the firm paying out a total of £14.1m in wages to its UK staff in 2008.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
NOT FOR REPRINT
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
You Might Like
View All
Simpson Thacher, Kirkland and Latham Maintain Lead in UK Revenue Per Lawyer Rankings
US Firms Rising? The Law Firms with the Largest UK Market Share, 2024
Trending Stories
- 1Del. Court Holds Stance on Musk's $55.8B Pay Rescission, Awards Shareholder Counsel $345M
- 2Another Senior Boeing Attorney Exits, This One for CLO Post at Jet-Maintenance Company
- 3Bridge the Communication Gap: The Benefits of Having (and Being) a Bilingual Mediator
- 4CFIUS Is Locked and Loaded, but What Lies Ahead for CFIUS Enforcement Activity?
- 5Deluge of Trump-Leery Government Lawyers Join Job Market, Setting Up Free-for-All for Law Firm, In-House Openings
Who Got The Work
Michael G. Bongiorno, Andrew Scott Dulberg and Elizabeth E. Driscoll from Wilmer Cutler Pickering Hale and Dorr have stepped in to represent Symbotic Inc., an A.I.-enabled technology platform that focuses on increasing supply chain efficiency, and other defendants in a pending shareholder derivative lawsuit. The case, filed Oct. 2 in Massachusetts District Court by the Brown Law Firm on behalf of Stephen Austen, accuses certain officers and directors of misleading investors in regard to Symbotic's potential for margin growth by failing to disclose that the company was not equipped to timely deploy its systems or manage expenses through project delays. The case, assigned to U.S. District Judge Nathaniel M. Gorton, is 1:24-cv-12522, Austen v. Cohen et al.
Who Got The Work
Edmund Polubinski and Marie Killmond of Davis Polk & Wardwell have entered appearances for data platform software development company MongoDB and other defendants in a pending shareholder derivative lawsuit. The action, filed Oct. 7 in New York Southern District Court by the Brown Law Firm, accuses the company's directors and/or officers of falsely expressing confidence in the company’s restructuring of its sales incentive plan and downplaying the severity of decreases in its upfront commitments. The case is 1:24-cv-07594, Roy v. Ittycheria et al.
Who Got The Work
Amy O. Bruchs and Kurt F. Ellison of Michael Best & Friedrich have entered appearances for Epic Systems Corp. in a pending employment discrimination lawsuit. The suit was filed Sept. 7 in Wisconsin Western District Court by Levine Eisberner LLC and Siri & Glimstad on behalf of a project manager who claims that he was wrongfully terminated after applying for a religious exemption to the defendant's COVID-19 vaccine mandate. The case, assigned to U.S. Magistrate Judge Anita Marie Boor, is 3:24-cv-00630, Secker, Nathan v. Epic Systems Corporation.
Who Got The Work
David X. Sullivan, Thomas J. Finn and Gregory A. Hall from McCarter & English have entered appearances for Sunrun Installation Services in a pending civil rights lawsuit. The complaint was filed Sept. 4 in Connecticut District Court by attorney Robert M. Berke on behalf of former employee George Edward Steins, who was arrested and charged with employing an unregistered home improvement salesperson. The complaint alleges that had Sunrun informed the Connecticut Department of Consumer Protection that the plaintiff's employment had ended in 2017 and that he no longer held Sunrun's home improvement contractor license, he would not have been hit with charges, which were dismissed in May 2024. The case, assigned to U.S. District Judge Jeffrey A. Meyer, is 3:24-cv-01423, Steins v. Sunrun, Inc. et al.
Who Got The Work
Greenberg Traurig shareholder Joshua L. Raskin has entered an appearance for boohoo.com UK Ltd. in a pending patent infringement lawsuit. The suit, filed Sept. 3 in Texas Eastern District Court by Rozier Hardt McDonough on behalf of Alto Dynamics, asserts five patents related to an online shopping platform. The case, assigned to U.S. District Judge Rodney Gilstrap, is 2:24-cv-00719, Alto Dynamics, LLC v. boohoo.com UK Limited.
Featured Firms
Law Offices of Gary Martin Hays & Associates, P.C.
(470) 294-1674
Law Offices of Mark E. Salomone
(857) 444-6468
Smith & Hassler
(713) 739-1250
