Cahill Breaks into Am Law Global 100 List of World’s Highest Grossing Law Firms
While most global firms posted modest growth in revenue and profits per equity partner (PPP) in 2013, superior performance enabled Cahill Gordon & Reindel LLP to join the ranks of the 100 highest-grossing law firms in the world. This marks Cahill’s first appearance on the Am Law Global 100 list, published by The American Lawyer magazine.
Cahill posted gross revenue of $386.5 million, up 10.9 percent compared to 2012. In 2012, the firm posted gross revenue of $348.5 million, up 6.9 percent compared to 2011. Across the Am Law Global 100 gross revenue was up 4.3 percent in 2013 and profits per equity partner rose by 5.4 percent, as the legal market gradually recovers from the recession.
In its editorial feature, The American Lawyer reported that “Cahill, known for its litigation and high yield finance practices, meanwhile, also ranks among the five fastest-growing Global 100 firms of 2013.” Cahill attributes results to continued expansion of its litigation and investigations practices, and its long-standing prominence as legal advisors to debt and equity securities underwriters and arrangers in loan transactions.”
Cahill posted profits per partner of $3.78 million in 2013, up 6.3 percent compared to 2012, earning the third highest PPP ranking among the Global 100. In its editorial feature, The American Lawyer reported that, “Cahill’s PPP has grown over the past five years at a CAGR of 12.3 percent, the second-highest in the Global 100.”
“This top-line growth reflects increased client demand in all practice areas,” commented Cahill Executive Committee Chairman Bill Hartnett. “Our litigation, regulatory and investigations capabilities have positioned the firm to handle a broad array of matters that include David Kelley’s recent appointment as Toyota’s independent monitor, representation of Credit Suisse in civil litigation relating to LIBOR and other market benchmarks, McGraw Hill in dozens of cases and Deutsche Bank in recently obtaining a $235 million judgment in a contract action against Sebastian Holdings.”
Cahill has been ranked among the top ten law firms for profits per equity partner by The American Lawyer since it began compiling such data for the famed Am Law 100 list that the magazine introduced in 1986.
“Our finance practice continues to thrive, with 2013 rankings as the top legal advisor to managers of high yield securities and leveraged loans for the fourth consecutive year, and as third ranked adviser to underwriters of equity securities,” Hartnett said. “Cahill also represented the financing sources in 7 of the 8 largest LBOs completed last year.”