Credit: iStock/iamnoonmaiMilbank London revenue leaps 25%
The US firm attributed its record turnover to star team hires last year
February 11, 2019 at 04:41 AM
2 minute read
Milbank Tweed Hadley & McCloy has announced a 25% hike in its London revenues, following a period of growth that has seen the office make a series of lateral hires.
The US firm's City turnover hit $156m, up from last year's figure of $125m.
The record number is partly due to the team hires the firm made last year, according to London co-managing partner Julian Stait.
Milbank recruited a four-partner London team led by restructuring star Yushan Ng from Cadwalader Wickersham & Taft in January 2018 and highly-rated high yield partner Apostolos Gkoutzinis from Shearman & Sterling in the same month.
Stait said: "We thought the hires would be great for the team and they have been transformational."
He added the hires of Ng's team and Gkoutzinis had yielded dividends but added that all the practice groups at the firm had a "super" year.
Stait also said Milbank will continue to invest in lateral hires this year, as well as continuing to "battle" for younger talent.
Last month, London finance partner Neil Caddy left to join Fried Frank's City base.
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