White & Case has kicked off the US financial reporting season with a 12.5% increase in global revenue to $3.32bn for 2024 and a 27% increase in profit per equity partner (PEP), surpassing $4m for the first time.
Revenue per lawyer (RPL) increased by 10.6%, rising from $1.16m to $1.28m, driven by strong growth in key practice areas such as antitrust, commercial litigation, debt finance, and M&A.
Speaking to Legal Business, vice chair and former London head Oliver Brettle said: ‘2024 was a very successful year with strong financial results and growth across the three regions of the firm, achieving record global financial results. We’ve had the strongest PEP and RPL in our history and we’ve continued to invest in the partnership at the same time.’
On seeing almost triple the revenue growth from last year, Brettle added: ‘A year is always quite a short period of time. It’s always correct to say you shouldn’t just look at one set of results, but at a five-year trend, and that’s the important point. It’s focusing hard on doing the right work for the right clients, and the strength of the global firm is really behind this success.’
White & Case put its revenue up by 52% in the last five years, with PEP up 54%, RPL up 29%, and total lawyer headcount up 18%.
Globally, the firm made 47 lateral hires in 2024 and 42 partner promotions effective from 1 January 2024, with a further 37 partner promotions effective 1 January 2025 – despite a drop of 7.6% in the number of equity partners. ‘We are continuing to invest in the firm’s partnership, including internal promotions and lateral partner hires,’ said Brettle. ‘We are going to continue to invest in our talent as you would expect.’
London turnover rose to $554m, a 25% increase from last year’s $444m, which Inigo Esteve, executive partner of the firm’s London office since November 2023, told LB was driven by growth across ‘all of the major areas’ in the City office.
Esteve highlighted key London lateral hires, including former head of London finance Emma Russell from Haynes & Boone and secondaries partner Alex Chauvin from Ropes & Gray, as well as the arrivals of M&A partner Richard Browne from A&O Shearman and IT and telecoms partner Dan Reavill from Linklaters this year.
On London hires in the pipeline, Brettle added: ‘We are always looking at opportunities in the market, we remain an attractive destination for high quality lateral talent in the market and we continue to be open to looking investing in our partnership.’
