Annual Review

What's inside

Highlights of our work, insights, achievements, programs and initiatives in a year that brought new challenges

A message from our Chair

Hugh Verrier

Hugh Verrier

In 2022 uncertainty took hold as inflation, volatile markets and a geopolitical conflict added to the challenges set in motion by the COVID-19 pandemic. In a world of shifting expectations and norms, we focused on creating a distinctive experience for our clients, consistent with the five-year strategy we launched in 2020. This North Star guided our global teams as they developed and executed innovative solutions on high-stakes deals, disputes and pro bono matters.

Our client work placed us at the center of global trends related to energy transition, environmental, social and governance (ESG) issues, finance and globalization. We contributed to the dialogue on these issues with published insights including “Scaling up the energy transition,” a report based on a survey that explores how capital providers and companies are setting priorities, staying competitive and managing risk. Through our COP27 video series, we explored themes raised during the annual climate conference and their potential impact on business and industry.

In regions around the world, we increased our capacity to serve clients, promoting 59 new partners and welcoming 39 lateral partners. We developed new ways of working with clients, increasing efficiencies and ensuring consistency. These initiatives included our Debt Finance Solutions Team, which leverages legal technology and other resources to handle certain types of routine work, and our Client Experience Blueprints, a series of tools that codify our global best practices for working with clients before, during and after a matter.  

We continued to focus on building a more diverse and inclusive workplace, significantly expanding our diversity data collection efforts so we can quantify our progress. Our people benefited from new and expanded coaching programs, and we took concrete steps to empower our associates, focusing on work allocation, skills development and leadership opportunities. 

This review discusses these and other accomplishments and initiatives that made a difference to our people and our clients in 2022. Together we face the future positioned for success.

Hugh Verrier, Chair


Guest speakers at Firm events share views on timely topics

The pandemic prompted a workplace shakeup, shining a spotlight on employee wellness

Amy Blankson offers tools that can boost happiness as we enter a new world of work

Glass elevators on the side of a London office building
blue sky in my pocket © Getty Images

When it comes to solving problems, human beings have a superpower

Kenneth Cukier talks about the process that can lead to breakthroughs and help us tackle novel challenges

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Haitong Yu © Getty Images

A vast pro bono network creates global impact

Antonio Zappulla talks about how TrustLaw tackles some of the world’s biggest challenges

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Matthias Kulka © Getty Images

Investors and energy companies pull all levers in the race to net zero

The focus on achieving net-zero emissions by 2050 remained a priority for governments, investors and energy companies

Richard Hamilton Smith © Getty Images

Stakeholders raise the bar on ESG

Addressing ESG factors became “the new normal” for investors and businesses

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Andriy Onufriyenko © Getty Images

Markets cool as interest rates and inflation rise

Activity across debt and M&A markets slowed as rising interest rates and high inflation saw investors, borrowers and lenders recalibrate risk appetite

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Christoph Hetzmannseder © Getty Images

Globalization: Balancing interdependencies and divisions

Around the world, legal and regulatory developments continued to reshape global interconnectedness

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Artur Debat © Getty Images


Highlights of our work in 2022

Our growth and accolades

Our achievements position us for success

Our annual revenue


US$2.83 billion in revenue

Our lawyers worldwide

2,616 total lawyers


1,297US-qualified lawyers
582English-qualified lawyers


2022 new partners

Meet the outstanding generation of talented lawyers who strengthened our Firm in 2022

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David Ramos © Getty Images

2022 awards & rankings

In markets around the world, White & Case earned many of the legal industry’s top accolades

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Yu Kodama © Getty Images

Our responsible business practices

White & Case is committed to fair and ethical operations that respect human rights and recognize the importance of our natural environment. 

As a signatory to the UN Global Compact, we affirm our commitment to doing business responsibly by supporting the Compact’s ten principles on human rights, labor, the environment and anti-corruption. The steps we are taking to continue to embed these principles into our Firm are outlined in our most recent Communication on Progress.

Our latest Environmental Sustainability Report includes information on our environmental policies, footprint, key actions and goals.


More than five million kilowatt hours of renewable energy powered our offices
Nine of our offices procure renewable energy, accounting for approximately one-third of all electricity used globally
We track our greenhouse gas emissions annually and now include our supply chain emissions
Our London office maintains ISO 14001 certification

Diversity and inclusion

Committed to advancing diversity and inclusion across the Firm

Our diverse workplace

11 global affinity networks

Our 11 affinity networks foster a sense of community among the Firm’s Black, Asian, Latinx/Hispanic, Middle Eastern, minority ethnic and LGBTQ+ lawyers, business services professionals and their allies. Each network sets its own agenda, initiatives and goals, which are specific to the issues it considers most important. Affinity networks create and enhance awareness of these groups within the Firm and its larger culture, drive community and connection across our global offices, and support their members with career and professional development opportunities.

25 local women’s networks

Our 25 local women’s networks are active in 40 offices across the Americas, EMEA and Asia-Pacific. These networks foster professional development and mentoring activities. They also provide a forum for our lawyers and business services professionals to share perspectives and create programs to support and retain our women while fostering and promoting gender equity.


Diversity: The numbers

Women make up:
40% of the Firm’s global management
25% of the Executive Committee
27% of our Office Executive Partners

50% of our 2022 global partner promotions
23% of global partnership
42% of our lawyers

In the US:

49%of our lawyers self-identify as of color 

28%of our partners self-identify as of color

In London:

43%of our lawyers self-identify as of color

27%of our partners self-identify as of color



95languages spoken


Leading publications and alliance organizations continue to recognize our commitment to diversity and inclusion

Number 1 Most Diverse Law Firm among top 10 US firms by revenue
The American Lawyer Diversity Scorecard 2022 (Number 2 among all firms scored)
100% rating on commitment to lesbian, gay, bisexual and transgender workplace equality (14th consecutive year)
Identifying the Firm as one of the best places to work for LGBT+ individualsHuman Rights Campaign’s Corporate Equality Index
International Firm of the Year for Career Development, Diverse Women Lawyers, Work-Life Balance
Euromoney Legal Media Group Women in Business Awards 2022 EMEA
2022 Mansfield Certification Plus (fourth consecutive year)
Diversity Lab
Top 75 employer in the UK
Social Mobility Foundation Employer Index 2022

Measuring our progress on diversity and inclusion

Using data to create change

bird's eyeview of people
Gremlin © Getty Images

People engagement

Helping our colleagues to reach new heights

Investing in our people with global coaching programs

Committing to growth opportunities for colleagues in wide-ranging roles

Moodboard © Getty Images

For associates: A more level playing field and greater opportunity

Recognizing the value of our lawyers as they start their careers

Shunli Zhao © Getty Images

Collaborating with clients around the world


world map
6 continents
In 2022 we advised clients from 
on matters in 


Building a better client experience

Focusing on consistent application of best practices

Building a better client experience
Sebàstian Calanzone © Getty Images

An innovation startup within the US Debt Finance practice

Leveraging technology to streamline routine work and enhance client service

Sky Sajjaphot / 500px © Getty Images

White & Case teams up with AbbVie on Second Look Project pro bono case

Collaborating to effect change and build strong connections

Paul Taylor @ Getty Images

Visuals by Roman De Giuli

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Capital Markets


3 min read

Largest-ever UAE IPO

We acted as issuer’s counsel on the IPO of Dubai Electricity and Water Authority PJSC (DEWA), the utility company for the Emirate of Dubai. The IPO raised AED 22.32 billion (US$6.1 billion) in proceeds and, on listing, DEWA will have a market capitalization of AED 124 billion, making it the largest IPO in the United Arab Emirates, the largest company listed on the Dubai Financial Market, and the largest public listing in the Middle East and North Africa since 2019.

Largest London Stock Exchange IPO in 2022

We advised Goldman Sachs and Morgan Stanley as joint global coordinators, HSBC Bank, Jefferies and BofA Securities as joint bookrunners and ING Bank as co-lead manager on the £262 million IPO of Ithaca Energy Limited and its premium listing on the London Stock Exchange.

Technoprobe €3.426 billion IPO

We advised Mediobanca and Intesa Sanpaolo, as joint global coordinators and joint bookrunners, on the IPO of Technoprobe S.p.A.’s ordinary shares on Euronext Growth Milan. Technoprobe is a leading company in the design and production of probe cards.

Banca Monte dei Paschi di Siena S.p.A. €2.5 billion rights issue

We advised Banca Monte dei Paschi di Siena S.p.A. on the US law aspects of its €2.5 billion rights issue pursuant to Regulation S and Rule 144A under the US Securities Act.

Eletrobras US$6.9 billion secondary offering

We represented the international underwriters and placement agents in a privatization via a public offering by Centrais Elétricas Brasileiras S.A. – Eletrobras and BNDES of 697,476,856 common shares, including 9,783,100 American depositary shares evidenced by American depositary receipts, at a price of R$42, in a US$6.9 billion transaction. This is the second-largest equity offering ever by a Brazilian issuer.


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Ukraine consensual debt deferral

We advised the Ministry of Finance of Ukraine, Ukravtodor and Ukrenergo on a comprehensive liability management transaction that, among other things, defers for two years Ukraine’s contractual obligation to make payments under approximately US$21.5 billion of its international bonds and sovereign-guaranteed debt obligations (issued by Ukravtodor and Ukrenergo) and amends terms of the US$3.2 billion GDP-linked warrants of Ukraine to preserve liquidity for application toward urgent state needs following the Russian invasion.

Eaton US$2 billion notes issuance

We represented Eaton Corporation (Eaton), a subsidiary of Eaton Corporation plc, in Eaton’s US$2 billion notes issuance. The notes consisted of Eaton’s first sustainability-linked senior notes, in an aggregate principal amount of US$1.3 billion and US$700 million of its senior notes. Eaton is an intelligent power management company.

US$1.5 billion Norton LifeLock notes issuance

We represented Avast plc, as target, in connection with NortonLifeLock Inc.’s Rule 144A/Regulation S issuance of US$1.5 billion of senior unsecured notes. The proceeds were used to fund the acquisition of Avast and for general corporate purposes. The name of the newly merged company is Gen Digital.

JBS S.A. closed offerings of US$6 billion senior notes

We represented JBS S.A., the largest protein company and the largest food company in the world, and certain of its subsidiaries, in three separate offerings in the aggregate principal amount of US$6 billion. The net proceeds from these offerings were used to finance concurrent liability management transactions (including the repayment of its senior secured term loan). In addition, we represented the JBS Group in its successful consent solicitations to amend and align the covenant packages across all series of notes to “investment-grade” in exchange for providing registration rights and registering all of its notes with the SEC.