Hogan Lovells’ diversified practice mix and geographic balance led to a 2.8% increase in gross revenue to $2.31 billion, while a change in the firm’s partner pay system helped its profits surge.
Profits per equity partner climbed by 30.8% in U.S. dollars to reach $1.97 million, a consequence of a focus on more efficient business practices, pandemic-related spending cuts and an adjustment to the firm’s compensation system that saw roughly 125 partners move from the firm’s equity to nonequity tier.
![Miguel Zaldivar, Jr., CEO of Hogan Lovells. Courtesy photo](https://images.law.com/contrib/content/uploads/sites/405/2021/02/Miguel-Zaldivar-Vert-202102181737-200x300.jpg)
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