Goodwin Procter’s gross revenues rose by 10.2 percent in 2015, reaching $865.5 million, according to The American Lawyer’s reporting. Revenue per lawyer rose 5.3 percent, to $1.1 million, while profits per partner rose 14 percent, to $1.99 million.
“There were a lot of very significant deals and litigations that underlie the revenue for the year, but no one matter or even a couple matters are really responsible for the revenue growth,” said David Hashmall, who succeeded longtime firm head Regina Pisa as chair in 2014.
Hashmall said the firm continues to focus on six core practice areas: IP litigation; private equity; financial institutions; securities and white-collar litigation and regulatory matters; technology and life sciences; and real estate capital markets.
He said that Goodwin Procter isn’t trying to be all things to all potential clients, but to be “the go-to firm” in each of its focus areas. Hashmall said he feels that the strategy fosters a stronger relationship with clients, adding that the firm’s realization rates were up in 2015.
Though Goodwin Procter’s overall attorney head count increased 4.6 percent, to 790 lawyers, the firm did resort to layoffs in 2015. Citing a decline in demand for litigation services, the firm cut 21 lawyers and 17 professional staff last March.
“We tried to get the right number so that everyone would feel fully engaged and occupied,” Hashmall said Tuesday. “I think we got it right.”
Some litigators who lost their jobs were given the opportunity to apply for positions in Goodwin Procter’s corporate department, and the firm provided outplacement assistance. A spokesman for the firm did not say whether any lawyers were rehired.
Goodwin Procter’s 790-lawyer census includes 195 equity partners and 116 nonequity partners.
The firm also launched a new office last year in Frankfurt, Germany, helmed by four former Ashurst partners. The office, which opened in December and will focus on real estate transactions, is the firm’s first in Germany and its third outside the U.S., after London and Hong Kong.
Goodwin Procter’s London office, which had previously focused on real estate exclusively, added two private equity partners from King & Wood Mallesons last year, Richard Lever and Simon Fulbrook, bringing that office’s attorney head count to about 30.
Hashmall said the firm’s IP litigation department had a strong showing in 2015. After taking on a group of five from Kenyon & Kenyon in 2014, Goodwin Procter hired the firm’s International Trade Commission practice head, Marcia Sundeen, last year.
Among the firm’s notable cases last year was its successful representation of B&B Hardware in a trademark case before the U.S. Supreme Court.
In 2016, Goodwin Procter will relocate its Boston office—the firm’s largest and oldest base—to a new building in the Seaport District on the city’s waterfront.