Shearman lifts London revenue
US LAW firm Shearman & Sterling has posted a 20 per cent hike in revenues at its London office, its fourth year of growth in the capital.
Turnover at the firm rose from $112.6m (£67.61m) to $134.8m in the 2012-13 financial year, led by a strong performance in the high-yield and finance practices.
Global revenues at the New York-headquartered firm grew more slowly, rising just over nine per cent to $820.5m. But profits per partner – a key measure of law firm success – grew by more than double that, rising 18.4 per cent to $1.8m.
Last year the firm advised Liberty Global on its £15bn takeover of Virgin Media.