Business of Law
Cahill Revenue Soars 20% to $323M, PPP Rockets 27% to $3.23M, Both All-Time Records
Posted Feb 18, 2011 3:10 PM CST
By Martha Neil
Recession? What recession? Cahill Gordon & Reindel has reported a record-breaking year of stratospheric profits in 2010.
Revenue soared 20 percent to $323.6 million and profit per partner rocketed 27 percent to $3.23 million, reports the Am Law Daily. Both figures are all-time highs for the New York-based firm.
Known for its high-profile corporate litigation work, the firm earlier awarded hefty bonuses to associates. However, partners, on average, got raises of more than half a million dollars—last year's PPP was a mere $2.5 million.
"We had a really good year across the board in all of our practices," co-administrative partner Jonathan Schaffzin tells the legal publication. "You can't do this unless you're busy across the board."
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