Mayer Brown saw its revenue fall by just under 14 percent in 2009, as the firm’s top line slipped to $1.118 billion from $1.294 billion in 2008. The firm also saw a dramatic fall in profits as its net income fell by almost 19 percent from $359 million to $291 million.
Profits per equity partner (PPP) fell a relatively modest 4 percent from $1.11 million to $1.06 million, as the firm reduced its equity partner head count by 50 to 274. The number of nonequity partners increased from 330 to 355, although firm Chairman Herbert “Bert” Krueger insists that the firm does not expect that income partners will outnumber equity partners in the longer term.
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