Aside from a notable shift towards growth, one of the most salient trends to emerge from 2013’s US financial results is the fact – and the extent to which – the London offices of America’s finest firms are outpacing their global recovery.
Shearman & Sterling set the bar high with a 20% increase in London revenues to $134.8m, up from $112.6m in 2012, the firm’s fourth successive year of growth. Firm-wide, despite the Wall Street thoroughbred achieving a much-needed return to form with a 9% turnover increase to $820.5m, this was clearly overshadowed by its high double-digit surge in the City.
