SOURCE: King & Spalding

February 22, 2008 09:32 ET

King & Spalding's Worldwide Revenues Reach a Record $615 Million

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.

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