Perspective:
2024

What's inside

A high-level look at the key initiatives, ideas and successes uniting the Firm

A note from Heather

Chair

Welcome to Perspective: 2024, the reimagined annual review from White & Case. With its newly shortened format, we hope to give you a high-level view of the work we’ve done on behalf of our clients and the key themes shaping the global markets.

Throughout 2024, our focus remained on delivering exceptional results for our clients—helping them seize opportunities, navigate complexities and achieve major business wins. Whether advising on Jersey Mike’s sale to Blackstone, helping Calpine finance one of the largest battery storage systems in the US, or defending the government of Georgia against a US$1.5 billion arbitration claim, we were at our clients’ side through transformative deals, disputes and regulatory challenges. Thanks to the trust our clients place in us, we reached significant milestones as a Firm, including surpassing US$3 billion in revenue for the first time.

Perspective: 2024 kicks off with "Executive voices," a collection of three short videos featuring Dipen Sabharwal on what it means to be “truly global,” Carina Radford on the Firm’s industry expertise, and my own reflections on 2024 highlights and plans for 2025. In "Client successes," we spotlight ten standout achievements for clients including CVC, Deutsche Bank and Vantage Data Centers—matters that not only shaped businesses but also reflected broader global trends such as digital acceleration and sustainable development.

"By the numbers" provides a snapshot of the impact we’ve made over the past year, while "Better together" illustrates how we provided 360-degree support to global mining client Vale. Lastly, in "Pioneer spotlight," we hear from partner Ladan Stewart, who is helping clients navigate the fast-moving world of crypto and fintech.

I hope you enjoy reading and viewing.


Heather K. McDevitt, Chair

Executive voices

Leadership perspectives on topics that matter to clients

“A landmark year for the Firm”

Heather McDevitt

Heather shares 2024 highlights and the outlook for 2025

 

 


“We have a very high ceiling”

Dipen Sabharwal

Dipen talks about what it means to be "truly global"

 

 


“Board-level consultancy value”

Carina Radford

Carina discusses the Firm's focus on industry expertise

Client successes

Highlights of our work in 2024

Major wins for clients

From big deals to complex disputes, we advised on matters that helped move clients’ businesses forward

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© zhengshun tang / GettyImages

By the numbers

Stats that tell a story about the work we do

Firm snapshot

US$3.32 billion in annual revenue


Highest revenue growth by

Practice
Debt Finance +30%
Mergers & Acquisitions +16%
Commercial Litigation +14%
Antitrust/Competition +14%
Industry group
Sovereigns +24%
Technology +22%
Mining & Metals +20%
Private Equity +19%

Our lawyers worldwide

2,598total lawyers

698total partners


124nationalities

95languages spoken


Wherever clients need us

world map

6 continents

44offices

30countries

In 2024, we advised clients from
126
countries
on matters in
205
countries
Cross-border matters accounted for
52%
of revenue

Global accolades

67 Band 1 practice rankings
Chambers Global 2024
Public M&A Team of the Year
British Legal Awards 2024
13 #1 rankings
Bloomberg Capital Markets League Tables
Innovation in Generative AI Strategy
FT Innovative Lawyers North America Awards 2024

Better together

Providing 360-degree support to clients

Wherever, whenever: Supporting global mining giant Vale

Lawyers across nine practices, five industry groups and 18 offices advised Vale on 20 matters in 2024

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© Isidora Jakovljevic / GettyImages

Pioneer spotlight

Q&A with a partner helping White & Case gain strategic ground

Clearing the way for creative disruption

Ladan Stewart, the Firm's Global Head of Fintech, discusses current trends in crypto and the longer-term outlook for the industry

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© Denys Nevozhai / GettyImages

Photo by © Alla Pressmann / GettyImages
Abstract image of colorful, mirrored tiles

Abstract image of curved, perforated ceiling in colorful light

Clearing the way for creative disruption

Ladan answers questions about everything from the future of crypto regulation to her favorite legal-themed movie

Article

3 min read

You joined the Firm in February 2024—can you share some work highlights from the past year?

A couple of fintech-focused highlights come to mind: The first involved representing a crypto-focused venture capital firm in its equity investment in a high-profile crypto project based in the United Arab Emirates, including due diligence performed by a multi-disciplinary, cross-border White & Case team. In the second, we represented a crypto project in an SEC investigation involving novel questions regarding whether the project's product offering was a "security" under the federal securities laws.

Crypto seems to have finally landed in the mainstream—what's the industry trying to achieve over the next few years and is there an ultimate, longer-term vision?

I don't know if there is one cohesive vision across the crypto industry. There are some in the industry whose goal is for crypto to ultimately displace traditional finance. But I think the more realistic vision is for crypto to become increasingly embedded in traditional finance, whether through the tokenization of securities and real-world assets, using blockchain technology to enhance trade clearing and settlement processes, or transforming the global payments landscape.

How do you foresee the evolving regulatory landscape impacting the growth and adoption of cryptocurrencies globally?

The next four years are likely to bring a new, light-touch regulatory landscape in the US. We are already seeing significant changes in how the federal government approaches crypto—going from a crypto-skeptic view to a crypto-enthusiastic one. The US government is increasingly willing to work hand-in-hand with the industry, with the White House and regulators like the SEC holding summits and roundtables. All of this will likely mean increased adoption of crypto and blockchain technology across a range of industries, as well as increased presence of crypto in the US as more and more companies look to take advantage of the friendlier regulatory environment. It will be interesting to see the steps other countries take to try to compete with the US in attracting crypto to their shores.

What trends are you observing in institutional investment in cryptocurrencies, and how might they influence market stability?

We are already seeing increasing interest in crypto by financial institutions, investment advisers and other participants in the financial markets. In the coming months, we will likely see new regulations that make it easier to trade and take custody of crypto, as well as more clarity about how crypto investments are regulated. All of this will lead to more predictability, which will likely attract more institutional investors to crypto. The institutionalization of crypto investment is certain to bring more strength and stability to the market.

And now, we catch up with Ladan outside the office…

What's your favorite legal-themed movie or TV show?

"My Cousin Vinny." Not only is the movie fantastically funny, but it actually provides a realistic account of how trials work.

If you could have any superpower to help you in the courtroom, what would it be?

At the suggestion of my ten-year-old—hypnosis!


© Denys Nevozhai / GettyImages
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