Contact Information: Contact: Les Zuke King & Spalding Ph. 212-827-4392
King & Spalding's Worldwide Revenues Reach a Record $615 Million
| Source: King & Spalding
ATLANTA, GA--(Marketwire - February 22, 2008) - King & Spalding, a leading international law
firm, announced today worldwide revenues of $615.251 million for the fiscal
year ending December 31, 2007. This performance represented an increase of
5.6 percent over the prior year. The firm also announced a 6.5 percent
increase in profits per partner, to $1.397 million, which follows an
increase of 25 percent in 2006, when profits per partner rose to $1.32
million.
Robert D. Hays, Jr., King & Spalding's chairman, said the firm is ideally
positioned for further growth.
"The many investments we made in 2007 are already producing good results.
We will continue to invest in select practice areas and industries where we
are strong and in people who fit with our culture."
The firm's 2007 success and its positioning for continued growth were
predicated on a number of significant developments last year, including
substantial geographic expansion and growth in its core practices. The
Dubai office, announced in January 2007, has grown to become one of the
largest offices of any U.S. firm in the Middle East. Following the opening
of that office, the firm opened three additional offices in Charlotte,
North Carolina; Riyadh, Saudi Arabia; and Frankfurt, Germany, to serve the
needs of its global client base and to provide new platforms for a number
of its practices, including real estate capital markets, energy, finance,
international arbitration, Islamic finance, litigation, mergers and
acquisitions and private equity.
2007 saw the relocation of the leadership of the firm's well-known real
estate capital markets practice to New York City from Atlanta in order to
concentrate on enhancing service to clients and providing global expertise.
The move also set the stage for the worldwide growth of King & Spalding's
real estate group, augmenting existing practices in Atlanta, Houston,
London and New York with capacity in Charlotte and Frankfurt. Partners
Mario Leissner and Michael Prinz zu Löwenstein joined the Frankfurt office
from Oppenheim
Immobilien-Kapitalanlagegesellschaft mbH and Heuking Kühn Lüer Wojtek,
respectively. Jawad Ali, a leader in the firm's Islamic finance practice,
relocated to Dubai from London in 2007, and the firm expanded its highly
regarded financial restructuring and intellectual property practices into
Houston and Washington, D.C. For King & Spalding's intellectual property
group, the expansion capped a full year of unprecedented growth with the
addition of 16 lateral partners and over 50 associates and patent agents to
the IP practice in New York, Houston, Charlotte, Washington, D.C., and
Atlanta. In addition, the international arbitration group continued to
excel and was recognized as one of the world's top two international
arbitration practices in 2007.
About King & Spalding
King & Spalding is an international law firm with more than 800 lawyers in
Atlanta, Charlotte, Dubai, Frankfurt, Houston, London, New York, Riyadh
(affiliated office), San Francisco, Silicon Valley and Washington, D.C. The
firm represents half of the Fortune 100 and in a Corporate Counsel survey
in September 2007 was among the top firms representing Fortune 250
companies. For additional information, visit www.kslaw.com.