US results: Squire Patton Boggs posts 12.3% rise in revenue
The hike in revenue follows its merger last year and propels the firm to overtake the turnover levels of three rivals
March 31, 2015 at 07:42 AM
2 minute read
Squire Patton Boggs has reported a 12.3% increase in its global revenue to $870.5m (£588.2m) including a modest rise in UK revenue for 2014.
The jump in revenue means it has surpassed the turnover levels of three rival firms: Dechert, Shearman & Sterling and Akin Gump Strauss Hauer & Feld. Last year the trio all posted higher revenue results than Squire Patton Boggs.
The growth comes after the merger between multinational firm Squire Sanders and Washington DC firm Patton Boggs in June last year.
In the UK the firm's revenue rose by 1.9% from $160m (£108.1m) to $163m (£110.1m).
Squire Patton Boggs' net profit grew by 21% in 2014 from $107m (£72.3m) to $129.5m (£87.5m). Average profit per equity partner rose by 7.7% from $808,000 (£545,982) to $841,000 (£568,281).
Despite last year's merger, headcount figures have remained fairly stable.
Partner headcount grew globally from 428 to 452 in 2014 and the number of female partners grew by two to 87 across the firm. Partner headcount in the UK fell slightly from 123 to 120 last year.
This year the firm promoted 30 lawyers to its partnership, with the lawyers in the UK accounting for one third of the appointments.
The firm's corporate practice got the largest number of new partners, with a total of nine made up across the firm.
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