Weil's London Office Posts Revenue Drop as Firm's Overall Profits and Revenue Rise
The firm attributed the London drop to fluctuations in the dollar-pound exchange rate.
March 06, 2020 at 05:59 PM
5 minute read
Weil, Gotshal & Manges' revenue saw an increase in revenue in 2019 and even bigger jump in profits per equity partner, but in London, the firm's revenue declined.
While overall revenue increased 3.9% to $1.52 billion and profits per equity partner grew at an even faster clip, crossing the $4 million mark. revenue from the firm's London office dropped about 1.65%, from $188.1 million in 2018 to $185.0 million last year, the firm said.
Barry Wolf, the firm's executive partner, attributed the decline to fluctuations in the dollar-pound exchange rate. Controlling for those, the office's revenue would have been up "about five or six million dollars," he said, to about $193 million.
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