K&L Gates set to unveil 8% London turnover hike as City rise continues
K&L Gates saw London turnover increase by 8% in 2012 after a busy year for the US firm, with City growth coming against static revenues across the firm as a whole. Provisional figures for the firm's London office show revenues rose to £35.6m during the year, up from 2011's total of £33m, despite a slight fall in partner headcount to 60. The results mean the law firm has increased City revenues by almost 20% over the past two years, after seeing a 10% hike in the UK last year.
January 31, 2013 at 07:03 PM
2 minute read
K&L Gates saw London turnover increase by 8% in 2012 after a busy year for the US firm, with City growth coming against static revenues across the firm as a whole.
Provisional figures for the firm's London office show revenues rose to £35.6m during the year, up from 2011′s total of £33m, despite a slight fall in partner headcount to 60.
The results mean the law firm has increased City revenues by almost 20% over the past two years, after seeing a 10% hike in the UK last year.
The London base took on a three-partner team from Sidley Austin in 2012, in a boost for its City finance practice, following the arrival of Addleshaw Goddard corporate crime partner Elizabeth Robertson in January last year.
Meanwhile, the firm is set to unveil global revenues of $1.06bn (£674m), marginally down on last year's income of $1.062bn (£675m).
K&L Gates recently ramped up its global presence with a merger with Australia's Middletons, adding 300 lawyers, including 70 partners, across four offices in Australia.
Other US firms unveiling City revenues for 2012 include Arnold & Porter, where the 20-partner base took in revenues in the region of $35-$40m (£22m-£25m) in 2012, with preliminary global revenues up by more than 13% to $727m (£462m) from last year's haul of $639.5m (£407m).
London managing partner Tim Frazer said the City office had "an extremely good" 2012, pointing to the firm's white collar crime and product liability practices as key drivers behind the figures, which he described as the best the office had seen.
Frazer added that the London office's role advising News Corporation's Management & Standards Committee had resulted in significant amounts of work. The mandate, which is being led by partner Kathleen Harris, has seen the firm assist on matters relating to the News of the World phone hacking case, the investigation into police payments and other issues at News International.
Last year, the firm's City office hired Allen & Overy corporate securities partner Anna Buscall and international arbitration partner David Reed, who joined from Shearman & Sterling.
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