Milbank, Tweed, Hadley & McCloy has become the latest firm to announce its London revenues, which rose by nearly $4m to $114.1m in 2016, 4% up on the $110.2m achieved in 2015. Growth in the City has been slower this year for the US firm, which posted a 6% rise last year.
The firm’s City office now accounts for 13% of the Milbank’s total global revenue. Milbank London co-managing partner Julian Stait said: ‘Last year we had a number of laterals who added to the revenue growth, while this year we haven’t made any further investment in new partners and teams so the growth was more steady. All in all, it was another good year for London and matched the trajectory of the firm.’
