Latham & Watkins $5bn revenue

Top US firm Latham & Watkins has become the first law firm to break the $5bn revenue barrier. Turnover grew by 26.7 per cent in its last financial year and reached $5.49bn. Profit-per-equity-partner (PEP) grew by 26.2 per cent to $5.71m, up $1.19m from 2020. Lawyer headcount increased to 3,078, an eight per cent rise. Revenue per lawyer grew 18 per cent to $1.78m. Chair Richard Trobman said the firm was “pleased” with its strong performance and he was “particularly proud of the resilience and hard work of our people”.