Quinn Emanuel: US law firm’s Canada office revenue soars
US law firm Quinn Emanuel’s revenue over 2024 in London was up double-digits as litigation continues to boom.
The litigation specialist generated £220.1m in revenue over 2024, nearly a 12 per cent increase on the £196.6m figure reported for the previous year.
Despite the jump in revenue, the firm saw its total profit slip by nearly seven per cent from £153.6m reported for 2023, falling to £143.3m over the last year.
The firm made headlines last year as it hiked the salaries of its newly qualified (NQ) London lawyers to £180,000, up from £152,000.
Its pay hike, which is in line with fellow US law firm Gibson Dunn, is the highest starting salary for a lawyer in the City.
Quinn Emanuel London senior partner Richard East said: “We are pleased to report our figures for 2024, which have again shown a very significant increase in revenue.”
He noted that the UK office of Quinn Emanuel “has for the first time exceeded £200m in revenue”, and added it “also achieved without any material contingency recovery”.
While focusing on the drop in profits, East pointed out that the “slight reduction in profitability this year derives primarily from the write off of fees and costs relating to a number of historic matters.”
“We are well placed and look forward to 2025, during which we expect to be involved in numerous high profile trials, appeals and other court proceedings,” he added.
The firm was instructed by a group of Credit Suisse bondholders in the fallout over the takeover of Credit Suisse by UBS. The firm is also acting on several competition class actions including bringing a claim out against Meta Platform Ireland and Facebook UK.