Bringing in about 60 laterals in 2007 gave Pepper Hamilton a big bump in gross revenue but slowed or stalled the growth of revenue per lawyer and profits per equity partner. The firm's gross revenue grew by 14.7 percent, from $259 million in 2006 to $297 million in 2007. Aside from the lag time in new attorneys bringing in revenue, the firm invested heavily in new office space, signing bonuses and headhunter fees, anticipating that it will pay off in 2008 and 2009, said executive partner Robert E. Heideck.
May 07, 2008 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
Bringing in nearly 60 laterals in 2007 gave Pepper Hamilton a big bump in gross revenue but slowed or stalled the growth of revenue per lawyer and profits per equity partner.
Executive partner Robert E. Heideck said the firm brought on 30 lateral partners or of counsel and 30 lateral associates between November 2006 and December 2007 — slightly longer than its calendar fiscal year.
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