While some of the firm's corporate and transactional practices softened in 2022, leaders said that change highlighted the importance of maintaining a roughly 50/50 balance between litigation and corporate work.
February 28, 2023 at 04:21 PM
6 minute read
Reporter
Faegre Drinker Biddle & Reath managed to hold onto the same level of profits per equity partner (PEP) in 2022 amid declining transactional work and the expiration of pandemic-era cost reductions.
The firm’s revenue dropped 3.3% to $955 million in 2022, setting back the firm’s post-merger revenue goal of $1 billion by at least another year. With a nearly 5% decline in total lawyers at the firm to 1,039, revenue per lawyer rose slightly to $919,000.
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(L-R) Gina Kastel, Andrew Kassner and Tom Froehle of Faegre Drinker Biddle & Reath. Courtesy photos.
