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O'Melveny offices in Washington, D.C. Photo: Diego M. Radzinschi/ALM O’Melveny offices in Washington, D.C. Photo: Diego M. Radzinschi/ALM

The court closures that accompanied the COVID-19 shutdown prompted initial alarm last year at litigation-heavy O’Melveny & Myers. So firm chairman Bradley Butwin was thrilled with a year in which the firm, in spite of flat revenue, succeeded in raising profits per equity partner 6% to $2.46 million.

“If you had told me in March that the courts would be effectively shuttered for the rest of year, I would not have projected anything close to a record year with regard to profits,” Butwin said.

O’Melveny posted its sixth straight year of record profits in 2020, which Butwin credited in part to cost savings connected to forced reductions in marketing, business development and travel expenses as a result of the pandemic. The firm also had about five fewer equity partners, dipping down to 166. Overall, the firm’s net income rose about 3%.

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Dan Packel

Dan Packel covers change and innovation in the legal services market, and writes a weekly briefing for Law.com, "The Law Firm Disrupted," on these subjects. He is based in Philadelphia. Contact him at [email protected] On Twitter at @packeld

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