Thursday 27 February 2014 8:38 pm

Profit per partner tops $1.2m at Hogan Lovells as revenues rise

PROFIT per partner at Hogan Lovells increased by 10 per cent to top $1.2m (£720,000) last year, the City law firm said yesterday, as both revenues and profits rose to record highs. Fees incomes increased by 5.2 per cent to $1.72bn in 2013, compared to $1.63bn in 2012, while revenues per lawyer were up 3.7 per cent to $742,613. During the year Hogan Lovells advised Dell on its $24.4bn deal to go private, Liberty Global on the European competition, pensions and employee share plan aspects of its £15bn acquisition of Virgin Media, and Apple on its $17bn debt offering. London, which is the firm’s single largest office globally and accounts for around 24 per cent of total revenues, brought in fee income of £265.4m –– up 4.5 per cent compared to £254m in 2012. “The London office is a critical part of our global business,” said Susan Bright, regional managing partner for the UK and Africa. “Half of the firm’s top 20 clients are managed or co-led from London.” Across the firm’s five practice groups, corporate represented approximately 34 per cent of total billings, litigation and arbitration was 32 per cent, finance 24 per cent, intellectual property six per cent and government regulatory work four per cent.