07:02, February 15 764 0

2018-02-15 07:02:07
Gibson Dunn financials: Turnover surpasses $1.6bn as profits slip

Gibson Dunn & Crutcher has reported small gains in global revenue of 2 per cent, taking its worldwide total for 2017 to $1.64bn.

The US firm increased its turnover from $1.61bn and comes amid a slight fall in average profits per partner from $3.28m to $3.24m.

The firm added 36 new lawyers worldwide over 2017, meaning it employs 1,275 fee-earners across 20 offices.

Gibson Dunn started out in 2017 with a new office opening in Houston, an increasingly popular destination for law firms wanting to expand its services in the oil and gas markets. The firm raided Baker Botts’ office for a six-partner energy team to kickstart operations.

The US firm has benefitted from a series of team hires worldwide, attracting a four-partner group from Ropes & Gray in Hong Kong and a quartet of partners from Ashurst’s Paris office.

The firm did not provide London revenue figures, with a number of new joiners and exits from the office last year.

The firm hired Allen & Overy arbitration partner Jeffrey Sullivan last July, as well as Herbert Smith Freehills energy co-head Anna Howell.

At the end of last year, Mayer Brown City tax head Sandy Bhogal and corporate co-head Jeremy Kenley also announced they were joining Gibson Dunn in London.

Gibson Dunn finance partner Phil Crump left for DLA Piper in August, while his former colleague Stephen Gillespie was named as LetterOne’s first group general counsel at the start of this year.

Gibson Dunn & Crutcher announced its largest-ever round of London promotions in November, with two made up in the City. The firm promoted finance lawyer Amy Kennedy, who started off her legal career at fellow US firm Skadden Arps Slate Meagher & Flom. Antitrust lawyer Deirdre Taylor has also made the cut in London, having joined the firm in 2013.