Key metrics showed sharp declines at O’Melveny & Myers in 2013, with profits per equity partner sliding 16 percent, to $1.73 million, and revenue per lawyer falling 8.6 percent, to $1.015 million.
Gross revenue fell 10.4 percent, to $733 million, while head count contracted 2.3 percent, to 721. The drops follow a year in which O’Melveny, as a result of alternative fee arrangement payouts to the firm, set firm records in RPL and PPP. “We didn’t expect to achieve the same financial results as 2012 because that year we benefited from large success fees,” says O’Melveny chairman Bradley Butwin.
