Davis Polk & Wardwell saw healthy growth in revenue and partner profits in 2016, despite capital markets headwinds and uncertainty in European and Asian markets. Revenue rose about 10.3 percent, reaching $1.18 billion, while profits per partner at the 907-lawyer firm grew about 12.5 percent to $3.75 million, according to preliminary reporting by The American Lawyer. These gains come after a relatively flat year in 2015.
“It was our best year ever,” said managing partner Thomas Reid. He said the firm saw “above normal strength in restructuring, leveraged finance and M&A.”
