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 Miguel Zaldivar Jr. Courtesy photo

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