Posted Feb 18, 2011 09:10 pm CST
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.”
ABAJournal.com: “Latham’s Gross Revenue Nears $2B Again, Up 6 Percent from 2009; PPP Nears $2M”
ABAJournal.com: “Calwalader Gross Dips for 4th Year, But PPP Is $2.39M; Akin Gump PPP Soars 10.4% to $1.6M”
ABAJournal.com: “Quinn Emanuel to Pay Associate Bonuses of Up to $82K, As Boies Schiller Tops Out at Over $200K”