It was a performance that the Wall Street thoroughbred badly needed and at last Shearman & Sterling has proved its many doubters wrong to unveil a 9.1% hike in revenues and a double-digit percentage increase in partner profits for its 2013 year.
Under the first full year of the leadership of senior partner Creighton Condon, the top 50 global law firm has posted a 9.1% rise in revenue to $820.5m, from $752m the previous year. Profit per equity partner (PEP) jumped 18.4% to $1.8m from $1,521,000 in 2012 while revenue per lawyer hit $1m, a 13.4% annual rise.
