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Robust performance confirms client-centric strategy and global vision
NEW YORK, Feb. 10, 2014 /PRNewswire/ -- Dentons US LLP today announced its financial results for the year ending on December 31, 2013, affirming the successful strategy that guided the March 2013 Dentons combination of international law firm Salans LLP, Canadian law firm Frasier Milner Casgrain LLP and international law firm SNR Denton.
Dentons' strong US performance reflects robust client demand for Dentons' sophisticated legal counsel and business solutions. US Gross Revenue grew to more than $473 million, while US Profits Per Equity Partner increased by 4.8% to $958,000, topping a 4.2% gain in 2012. US Revenue Per Lawyer also rose 1.4% to $789,000.
"Thanks to our clients, 2013 was an exceptional year for Dentons in the US. Clients have really embraced our new firm and expanded capabilities, both in the US and globally," said Dentons US managing partner Mike McNamara. "Our strong performance is merely a reflection of clients validating with their trust that Dentons' strategy and vision aligns with how they are growing their businesses."
The Dentons combination was an important driver for expanded client engagements that fueled the strong 2013 US results, adding new revenue only possible through cross-regional engagements. Among the many notable client successes in the past year: a 75-lawyer global M&A team advised Fortune 500 company Molex Inc. in its $7.2 billion acquisition by Koch Industries; the firm was retained by the Official Committee of Retirees for the City of Detroit in the nation's largest municipal bankruptcy proceeding; Dentons advised the Republic of Ghana on a $1 billion cross-border bond issue in Africa; and the firm secured a total defense verdict in favor of NIC Inc. Chief Financial Officer Stephen M. Kovzan, completely exonerating him from a longstanding civil enforcement action by the Securities and Exchange Commission.
Over the last year, Dentons opened an office in the capital of American Energy, Houston, its 16th in the US and 80th globally, focused on expanding the firm's leading global Energy practice. In the US, the firm added 35 new laterals in key practice areas, including Capital Markets, Corporate, Energy, Health Care, Insurance, Litigation and Dispute Resolution, Public Policy and Regulation and White Collar and Government Investigations, among many others.
"As the world's leading companies seek opportunities in new geographies, Dentons is there to advise on the critical issues in the markets where decisions are made and where they are executed," said Dentons US CEO Peter Wolfson. "We are particularly heartened by our clients' recognition of our new firm and our different approach to building the law firm of the future."
Six months after the combination, Dentons earned a coveted top-20 ranking on the Acritas 2013 Global Elite Brand Index as one of the most recognized legal brands. This acknowledgment underscores the dramatic increase in brand awareness as a result of the firm's high profile work. The firm and its lawyers have been named in many leading rankings and publications for outstanding client service and legal counsel.
Dentons serves its communities in the US and around the world through pro bono legal service, volunteerism and environmental sustainability projects. Most notably, in 2013, a litigation team in the US achieved a landmark pro bono victory on behalf of a citywide class of individuals who rely on Medicaid-funded home health services. Dentons donated the fee portion of the court-awarded US $1.75 million in attorney's fees to New York Legal Assistance Group, the firm's pro bono co-counsel on the case.
Dentons is a global firm driven to provide a competitive edge in an increasingly complex and interconnected world. It was formed in March 2013 by the combination of international law firm Salans LLP, Canadian law firm Fraser Milner Casgrain LLP (FMC) and international law firm SNR Denton. Dentons is built on the solid foundations of these three highly valued law firms. Each built an outstanding reputation and valued clientele by responding to the local, regional and national needs of a broad spectrum of clients of all sizes-individuals; entrepreneurs; small businesses and startups; local, regional and national governments and government agencies; and mid-sized and larger private and public corporations, including international and global entities.
Dentons' clients now benefit from approximately 2,600 lawyers and professionals in more than 75 locations spanning 50-plus countries across Africa, Asia Pacific, Canada, Central Asia, Europe, the Middle East, Russia and the CIS, the UK and the US who are committed to challenge the status quo and offer creative, dynamic business and legal solutions.
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