International firm Reed Smith has reported a 13% increase in revenue in London and a 10% increase globally in what the firm described as its best-ever financial results.

The firm’s global revenue was up 9.6% to $1.44bn (£1.08bn) last year while its London revenue increased to $243m (£182m) in 2021.

Reed Smith’s global profit per equity partner was also up by 13.4%, from $1.53m to $1.74m, while global revenue per lawyer was up 12.6% to $913,000.

Tamara Box, managing partner for Europe and the Middle East, said the firm has ‘achieved the best financial results in Reed Smith’s 145-year history’.

‘While there are many factors which contributed to that success, key among them was our client demand which was not surprisingly high in uncertain times, together with the very high calibre of legal talent across the firm,’ she said.

Box added the firm’s London office, Reed Smith’s largest office, had a standout year ‘in spite of the challenges facing all businesses’.

She also said she was ‘incredibly proud’ of the firm’s pro bono work, with a total of 88,000 pro bono hours logged across the firm in 2021 – 27,300 of which from the London office, a 24% increase in the previous year.

‘To have recorded what is our best year financially while at the same time giving back by increasing our pro bono hours significantly is a real testament to the strength of our people, our culture and our service to clients,’ Box said.