December 3, 2010 9:43 AM
A Very Good Year for Quinn Emanuel's London Office
Posted by Chris Johnson
The firm's recently released U.K. LLP accounts, filed at Companies House, reveal that revenue for the 2009 calendar year was $11.9 million, suggesting an incredible profit margin of 75 percent. Quinn's average firmwide profit margin for 2009 was 58 percent, while the most profitable firm in this year's Am Law 100--Wachtell, Lipton, Rosen & Katz--achieved a profit margin of 63 percent.
Despite this performance, the accounts show that the highest earning of the five London partners took home compensation of just over $2.3 million--well below the firm's average profits per equity partner of $3.13 million.
Quinn's London office was established in April 2008 to exploit a gap in the market for litigating against banks during the financial crisis. In February the Los Angeles-based firm opened its second European office with the hire of a patent litigation partner from Allen & Overy in Germany.
Founding partner John Quinn says that the firm expects a "substantial increase" in London revenue in 2010 as a result of increased head count and the "ever-increasing mandates" that the firm is winning in the U.K., Legal Week reports.
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