Alston & Bird’s managing partner said the firm’s rising revenue and partner profit in 2011 demonstrates that a strategic expansion begun in 2007 is paying off, justifying the substantial investment made by the firm’s equity partners.
That expansion, which added more than 100 lawyers in Los Angeles, Silicon Valley and Dallas, cost Alston’s equity partners dearly when the economy tanked in the fall of 2008. Profit per equity partner slipped 9.2 percent that year, falling from $1,006,757 to $914,569. Profits per partner dropped a second time in 2009 from $914,570 to $910,197.
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