International firm Hogan Lovells today announced a 5.5% increase in total global revenues to nearly £1.9bn in the ‘strongest overall results in its history’, pushing profits per equity partner up by 17.5% to £1.8m in the year to 31 December 2021. 

Revenue was up from £1.8bn in the 2021 year – with 47% of total billings coming from Europe, the Middle East and Africa – while PEP climbed from £1.54m the previous year, Hogan Lovells said. The firm did not provide figures for pre-tax profits.

The announcement marks the second year in a row that Hogan Lovells has posted a double-digit increase in PEP, following a 30% jump last year.

Hogan Lovells – which represents Eurasian Natural Resources Corporation (ENRC) in its high-profile High Court claim against Dechert, the firm’s former head of white-collar crime Neil Gerrard and the Serious Fraud Office – also recorded an 8.7% increase in revenue per lawyer, up to £748,000.

Hogan Lovells

Hogan Lovells: Total global revenues up 5.5% last year to nearly £1.9b

Source: Darren Filkins

Chief executive Miguel Zaldivar said Hogan Lovells ‘achieved record financial results in 2021 across the board’, adding that the firm’s global transactions practice was ‘a key driver of our performance’.

He pointed in particular to Hogan Lovells’ work advising Oracle on its $28.3bn (£21bn) acquisition of Cerner Corporation, a provider of healthcare IT. ‘Additionally, we saw our litigation work on the rise – particularly in the areas of complex multi-jurisdictional disputes work and tech litigation,’ Zaldivar said.

Hogan Lovells also said that 27% of its partners are women and that it is working ‘diligently’ towards a target of 30% women partners globally, having achieved that goal in the UK and US.