Latham's Second Chance: A New Crisis Let the Firm Rewrite Its Infamous Response to the Last One
In 2009, Latham & Watkins laid off 12% of associates and 250 staff members in response to the global financial crisis. In 2020, it avoided cuts—and had one of the best years in Big Law.
Disruption, uncertainty and austerity will forever be linked with COVID-19. But so will big gains. And few firms made more out of a challenging situation in the past year than Latham & Watkins.
Firm leaders say increased demand across the board helped solidify the firm’s place in the upper echelon of the Am Law 100, with a revenue increase of 15% and profits per partner up nearly 20%. At $4.3 billion, Latham is now secure as the second-largest firm in the country by revenue, more than a billion dollars ahead of its closest competitor.
What data are you leveraging to sell strategy internally? Get the Am Law 100 data exclusively with Legal Compass.
And it wasn’t just about receipts. Latham also managed to bring in top talent to help chart its path forward, including corporate heavyweights Rick Kline and Sarah Axtell from Goodwin Procter, and M&A duo Ian Bushner and Neal Reenan from rival Kirkland & Ellis.
This premium content is reserved for
Law.com International Subscribers.
BENEFITS OF A SUBSCRIPTION INCLUDE:
- Customized news by region including UK, Asia, Europe, Latin America, Middle East, Africa, and North America
- Cutting-edge research such as UK Top 100, China 45, and Asia 50
- Get the inside track on the biggest breaking stories that delve deep into the issues behind the headlines
- Comprehensive coverage of the dynamic legal market from people moves to the major international jurisdictions
- Global view into how legal tech, business of law, in-house and regulatory environments are intersecting worldwide
Already a subscriber? Sign In Now