X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.
Jones Day raked in 15 percent more revenue in the District last year than in 2001, matching the best performances among D.C. offices of out-of-town firms. The double-digit gains underscore how lucrative the D.C. market can be for giant law firms, even when the broader economy is weak. Jones Day’s 212 local lawyers generated $135 million in fee income, compared with just more than $117 million in 2001. “It was a great year,” says Mary Ellen Powers, partner in charge of the D.C. office. Profits climbed to $880,000 per equity partner, a healthy 8 percent increase over 2001. Only four of the highest grossing firms in the District yielded fatter profits last year. Powers, who replaced Stephen Brogan in January 2003 as D.C. office leader after Brogan was named managing partner of the entire firm, attributes much of the local revenue to “a large number of very big-ticket disputes” and regulatory work, particularly on antitrust and tax matters. The D.C. office contributed roughly 15 percent of the $908 million in revenue generated across the 27-office, 1,700-lawyer firm last year. Jones Day’s robust local results mirror those posted by Latham & Watkins; McDermott, Will & Emery; and Skadden, Arps, Slate, Meagher & Flom, which saw D.C.-area revenue growth of 16 percent, 15 percent, and 12 percent, respectively. Major matters for Jones Day’s Washington team included worldwide tax planning for Pfizer Inc.—a project that kept the firm busy in 2001 as well. Powers credits D.C. partners Joseph Iannucci, Raymond Wiacek, and Lester Droller with spearheading that effort. Partners Phillip Proger and William O’Reilly tackled “substantial” antitrust work for Bayer AG, Powers recounts, while partner Willis Goldsmith advised Verizon Communications Inc. on labor and employment matters. D.C. partners Robert McDermott Jr. and Peter Biersteker handled toxic-tort defense work for the R.J. Reynolds Tobacco Co. Aventis S.A. relied on partner John Majoras to wrestle with civil litigation arising from claims of price fixing in the vitamin industry. Work for these clients is ongoing, Powers notes, and demand for Jones Day’s D.C. litigators shows no sign of slackening in 2003. “This office is really humming right now,” she says.

This content has been archived. It is available exclusively through our partner LexisNexis®.

To view this content, please continue to Lexis Advance®.

Not a Lexis Advance® Subscriber? Subscribe Now

Why am I seeing this?

LexisNexis® is now the exclusive third party online distributor of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® customers will be able to access and use ALM's content by subscribing to the LexisNexis® services via Lexis Advance®. This includes content from the National Law Journal®, The American Lawyer®, Law Technology News®, The New York Law Journal® and Corporate Counsel®, as well as ALM's other newspapers, directories, legal treatises, published and unpublished court opinions, and other sources of legal information.

ALM's content plays a significant role in your work and research, and now through this alliance LexisNexis® will bring you access to an even more comprehensive collection of legal content.

For questions call 1-877-256-2472 or contact us at [email protected]

 
 

ALM Legal Publication Newsletters

Sign Up Today and Never Miss Another Story.

As part of your digital membership, you can sign up for an unlimited number of a wide range of complimentary newsletters. Visit your My Account page to make your selections. Get the timely legal news and critical analysis you cannot afford to miss. Tailored just for you. In your inbox. Every day.

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.