Reed Smith Hits $1.5bn Revenue Milestone
Here’s the key points from Reed Smith’s latest financial results.
In Short: Reed Smith rebounded strongly in 2024, crossing the $1.5bn revenue mark for the first time—a 5.3% increase on the previous year’s $1.42bn. The firm posted record-high profits per equity partner (PEP) at $1.8m (up 13.8%) and broke the $1m revenue per lawyer barrier. Growth was underpinned by strategic investments in AI, key markets like London, and new offices in Atlanta, Denver, and Saudi Arabia.
Key Stats
- Global revenue: $1.5bn (+5.3%)
- PEP: $1.8m (+13.8%)
- Revenue per lawyer: $1m (+11.5%)
- London revenue: $247m (+15.2%)
- Total UK revenue (including Leeds): $252m
- London revenue per lawyer: $946,720 (+29.8%)
- New lawyers added (2025 YTD): 72 (57 in Atlanta & Denver)
- Alternative fee arrangements: 15.5% of work (up from 13.6%)
Key Points to discuss in applications and interviews
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