Often the bellwether for global law firm financials, the world’s highest-grossing firm, Kirkland & Ellis, has posted muted revenue and profit growth for 2022, with turnover up 8% and partner profits up just 2% – its slowest performance year-on-year for some time.
Kirkland made major waves in the legal sector last year, when a 25% surge in revenue saw it become the first law firm to pass the $6bn revenue mark. Its 2022 financials show a further increase, though a more modest one, with a steady rise of 8% to $6.5bn. This more modest growth was also evident in PEP, which went up 2% to $7.5m, after jumping 19% to $7.4m in 2021. Revenue per lawyer, meanwhile, declined 5%, to $1.9m.
