Finance

US law firm Latham & Watkins boosts partner profits 20% to $4.5m

US law firm Latham & Watkins has announced its average profit per partner in 2020 was $4.5m, up 20% on $3.8m in 2019.

Latham posted revenue of $4.33bn, up 15% from $3.76bn the previous year. The US firm has expanded in London in recent years and has continued adding to its City ranks, with recent hires including Travers Smith’s private equity head Paul Dolman, Freshfields Bruckhaus Deringer M&A partner Sam Newhouse and Linklaters restructuring partner Bruce Bell.

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The firm said its revenue per lawyer grew 9.5% to $1.51m in 2020 and said its lawyer headcount rose 5% to 2,858.

In a sign of Latham’s ambitions in London the firm this year signed a lease for a large office space in the City, going against a post-pandemic trend of businesses shrinking their real estate needs.

READ Latham & Watkins moves into 1 Leadenhall

In January the firm signed an agreement to anchor 1 Leadenhall which is being developed by Canadian asset manager Brookfield.

Latham said it expected to occupy a minimum of 200,000 square feet (sq ft) at 1 Leadenhall from early 2026.

The firm currently occupies 180,000 sq ft at 99 Bishopsgate which it moved to in 2000.

“Last year was incredibly busy for us. We are focused on building on the strong momentum that has continued into the new year,” Latham’s chair and managing partner Rich Trobman said in a 16 March statement.

To contact the author of this story with feedback or news, email James Booth

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