Law firms headquartered in Chicago and the Midwest matched or exceeded the revenue growth across the legal industry for the first nine months of 2019, according to a recent report from Citi Private Bank’s law firm lending and consulting unit.
The news wasn’t all positive, however. Chicago firms saw expenses grow faster than revenue—5.3% for expenses versus 5.1% for revenue—and demand for their services, measured by the total hours logged by Chicago lawyers, dropped half a percent in the same period.
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