International law firm Bryan Cave Leighton Paisner (BCLP) today (Jan. 29) has announced strong results for 2018, its first year as a merged firm. Revenue was $905 million – representing growth of 1 percent* based on constant exchange rates. Profit per equity partner was up 5 percent. The firm has a positive cash balance of $100 million.
The firm, formed in April 2018 as one global financial entity, has in its early phase focused on driving collaboration across the new business, resulting in more than 600 cross-working and referral matters generating approximately $20 million in revenue.
As well as investing in maximizing the value of the merger, the firm has: brought in 11 lateral hires since merging; promoted 23 to partner; expanded its global innovation activities, which to date already has launched new services such as Cantilever (a legal operations consultancy that supports in-house legal teams and general counsel in evaluating their current and future performance) and products such as Clear Cut (a tool that uses AI to help develop early case assessments for clients considering litigation).
BCLP Co-Chairs Lisa Mayhew and Terry Pritchard, commenting on these results, said: “We are very pleased to see revenue growth and increased PPEP in our first year. The firm has moved remarkably fast to integrate, with our lawyers forming increasingly strong connections to their clients and each other. In 2019, we remain focused on providing globally connected service and continuing to innovate to ensure we deliver against our clients’ needs.”