Partners at Hogan Lovells are set to receive £1.8m, the law firm said today, after it posted record global revenues of almost £1.9bn for the financial year 2021.
Anglo-American law firm Hogan Lovells today posted record revenues of £1.895bn for FY 2021, on the back of booming demand for its M&A services, following a record year for mergers and acquisitions.
The firm noted that 2021 saw it work on some of the world’s biggest M&A deals including Oracle’s $28.3bn acquisition of health technology company Cerner and US wholesaler AmerisourceBergen’s $6.5bn acquisition of drug wholesale Walgreens.
The M&A boom saw Hogan Lovells’ revenues jump 12.9 per cent to £1.895bn, as profit per partner jumped 25.9 per cent to £1,805,000 and revenues per lawyer increased by 16.5 per cent to £748,000.
The results come as Hogan Lovells “strongest overall results in its history,” company CEO Miguel Zaldivar said.
The firm said its revenues were split equally between its Europe, Middle East, and Africa (EMEA), and Americas divisions, with both segments accounting for approximately 47 per cent of total billings. The firm’s Asia Pacific business generated the remaining 6 per cent of billings, the firm said.
The firm noted that just more than a quarter (27 per cent) of its partners are women, while 12 per cent are from an ethnic minority background.
The law firm, which has headquarters in London and Washington, DC, is currently aiming to ensure that 30 per cent of its partners are women and that 15 per cent are from ethnic minority backgrounds.
The results come after Hogan Lovells said it plans to move into new headquarters, across the road from its current building, by the fourth quarter of 2026.