Nixon Peabody’s 2023 gross revenue figure of $563 million not only represents a 2.9% uptick from 2022 and a firm record. It’s also a pleasant surprise, said CEO and managing partner Stephen Zubiago, who reflected on his perspective around this time last year as he draws up the firm’s 2024 budget.

“We went into last year slightly pessimistic, and things turned out OK,” Zubiago said in an interview. “This year, we’re a little more optimistic because we’re hoping interest rate issues are behind us.”