Elite East Coast and West Coast firms weren’t the only big law firms with banner years in 2021. Several law firms in the Midwest showed big gains in revenue or profit, highlighting how some firm fortunes also rose partly through midmarket deals and work for small and midcap clients.
Some Midwest firms outpaced their peers in the legal industry. For instance, Missouri-founded firms like Polsinelli ($697.3 million) and Husch Blackwell ($476.7 million), both ranked in the second half of the Am Law 100 last year, grew their revenue about 13% and 14%, respectively, this year. That’s above the 10.9% average calculated by Citi Private Bank for firms in the second half of the Am Law 100. Meanwhile, Second Hundred firms such as Shook, Hardy & Bacon ($414.9 million), Michigan-based Honigman (roughly $295 million) and Spencer Fane ($188.5 million) likewise saw double-digit increases in revenue, beating the industry average for firms in this group too.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]