Goodwin London revenue soars 58% to $66.8m
The stand-out growth follows a year of expansion for the firm
February 14, 2019 at 10:18 AM
2 minute read
Goodwin Procter's London revenue soared by 58% last year, jumping from $42.3m in 2017 to $66.8m in 2018.
The firm had previously stated its 2017 City revenue at $36m, when it reported based on its financial year ending September.
The firm also grew its non-US business, which encompasses its offices in London, Frankfurt, Paris and Hong Kong. Combined revenue at those bases grew by 42% last year.
The growth came amid a global revenue uptick of 16% to $1.198bn, with revenue per lawyer increasing more than 10% to $1.25m, according to preliminary ALM reporting.
Profit per equity partner at the firm rose by more than 14% to $2.46m.
Goodwin chairman David Hashmall, who has led the Am Law 100 firm since 2014, said the strong financial growth can be attributed to a strategic focus on six core practice areas.
During the past several years, Goodwin has focused on expanding its technology and life sciences practice, as well as its securities, white-collar litigation and regulatory, real estate, private equity, intellectual property litigation and financial institutions groups.
Goodwin's private equity and life sciences practices each grew their revenue by 31% from the prior year, while the technology practice grew revenue by 20%, the firm said.
Last year, the firm launched a European life sciences practice with the hire of four Dechert lawyers, including two City partners.
The firm also bulked up its global professional staff, adding Linklaters' chief operating officer for the emerging Europe, Middle East and Africa regions, Uli Kleinsteuber, as its first-ever managing director of international operations.
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