White & Case Shatters $3B Revenue Barrier with 12.5% Surge.
White & Case has achieved a significant milestone, surpassing the $3 billion mark in revenue for 2024, with a 12.5% increase to $3.3 billion. This impressive growth has also driven a 27% rise in profit per equity partner (PEP), reaching $4 million. The results signal a strong recovery and acceleration compared to 2023, when revenue growth was more modest at 4.3%, alongside a 12.7% increase in PEP.
The firm's revenue per lawyer also saw a notable boost, rising by 10.6% to $1.3 million. Net income surged 19.5% to $1.7 billion, while overall expenses climbed by 5.9%, totaling $1.6 billion.
White & Case’s London office also performed exceptionally well, with revenue growing by 25% to approximately $554 million. This marks a 64% increase over the past five years. Vice-chair Oliver Brettle expressed satisfaction with the firm's performance, saying, "2024 had been a successful year for the firm, with strong financial results across the board in all three regions."
Brettle highlighted the global nature of the firm’s work, noting that 52% of the firm's work had a cross-border element. He continued, "We feel that last year reflects our continued focus on advising leading global clients on their very important, complex cross-border matters, and we think we are uniquely placed to play to our strengths as a global firm."
Although White & Case did not expand its office network in 2024, it secured 47 lateral partner-level hires across its existing offices, bringing its total partner count to 698, a 1.3% increase. However, there was a notable 7% decrease in equity partners, leaving the total number at 349. The firm also saw a 1.5% increase in its total number of lawyers, bringing the total to 2,598.
Looking ahead to 2025, Brettle expressed confidence in the firm’s prospects, noting that January performance was already above 2024 levels. The firm’s optimism was boosted by its involvement in advising Calpine on its $26.6 billion acquisition by Constellation Energy, a deal that created the largest low-emission energy supplier in the US.
White & Case also made a strategic investment in its London office with the hiring of Travers' head of tech and commercial transactions, Dan Reavill. As for the future, the firm remains committed to its practice in China, even as some US firms have scaled back their presence in the region. However, Brettle pointed to White & Case's US operations, particularly its New York office, as a key area for investment in 2025.
The firm’s robust performance mirrors trends in the wider legal sector. According to a Wells Fargo report, law firms collectively saw a 12.5% revenue growth in 2024, surpassing last year’s 6% increase, and approaching growth rates only seen in 2021.
