Orrick and MoFo post double-digit PEP decreases

Legal Week's US sister title The Recorder surveyed seven of the largest Bay Area firms, with most reporting a drop in PEP. Orrick saw the most dramatic fall in PEP with partner profits plunging by 21% to $1.315m (£878,000), while revenues increased by 8% to $835m (£558m). The profit fall came o...

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Bibliographic Details
Published inLegal Week p. 6
Main Authors Royal, Amanda, Elinson, Zusha
Format Trade Publication Article
LanguageEnglish
Published London Incisive Media Limited 15.01.2009
Subjects
Equity
Financial performance
Law firms
Profits
United Kingdom > UK
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Summary:Legal Week's US sister title The Recorder surveyed seven of the largest Bay Area firms, with most reporting a drop in PEP. Orrick saw the most dramatic fall in PEP with partner profits plunging by 21% to $1.315m (£878,000), while revenues increased by 8% to $835m (£558m). The profit fall came on the back of heavy expansion costs. The firm's large capital markets practice also suffered as a result of the credit crisis and, in November, it laid off 40 lawyers in structured finance and real estate.
ISSN:1466-1489
1466-1489