In a stunning twist of legal fortune, Quinn Emanuel, the litigation powerhouse known for its hyper aggressive courtroom tactics, (they relish the ‘most feared’ law firm title, remember) has seen its City profits skyrocket by 50 percent in the past year.
This isn’t just your run-of-the-mill success story. We’re talking a whopping £196.6m in revenue for 2023, up 47 percent from the previous year’s £133.58m. Profits soared by an eye-watering 60 percent, hitting £153.6m.
Their stateside profits are exactly low, either. The firm announced gross revenues of over $2 billion and profits per equity partner of $7.2 million in 2023.
AbovetheLaw also report that the firm have announced generous bonuses for associates, with the caveat that the top bonuses accompany generous hours by the staffers as shown below –
Now, before you start thinking this is just another boring financial report, let me spill some tea. Word on the street is that a hush-hush “material one-off success fee” played a part in this windfall.
Richard East, (pictured) the firm’s London senior partner, is keeping mum on the details, but he’s quick to point out that even without this mystery money, they’re still rolling in dough compared to 2022.
It’s not all smooth sailing in the Quinn Emanuel universe, though. Remember that dip in 2021 when profits took a 6 percent nosedive? They’ve bounced back with a vengeance, proving that in the world of high-stakes litigation, what goes down must come up – and then some.
The firm’s been on a hiring spree too, beefing up their London office with three new partners, bringing the total to 29. And let’s not forget the 76 associates now roaming their halls, up from 58. .
But here’s where it gets juicy. Remember that mass exodus in 2021 when their competition team jumped ship to Willkie Farr & Gallagher? Well, Quinn Emanuel’s latest numbers are giving a big middle finger to anyone who thought that setback would slow them down.
And just when you thought they couldn’t get any bigger, they’ve gone and snagged a piece of the Credit Suisse drama pie. They’re now repping AT1 bondholders in the aftermath of UBS’s rescue mission.
In the words of the ever-modest Richard East, “It is a stunning achievement for a ‘disputes only’ practice to approach £200m in revenue.”
