Law Firm Profitability

International Edition

Greenberg Traurig Sees 6% Growth in Revenue Amid Nonequity Tier Expansion

By Alexander Lugo | February 29, 2024

The moderate growth came after two years of faster pace in revenue growth, but CEO Brian Duffy says it's only a slowdown because 2021 and 2022 were such extraordinary years for the firm. The firm also expanded in the Middle East and in Singapore last year.

5 minute read

International Edition

Linklaters Veers Towards 3-Gate Lockstep System in Latest Talent Push

By Krishnan Nair | February 27, 2024

Top UK-founded firms are seeking to keep their remuneration models attractive to partners at risk of departing for lucrative roles at US law firms.

4 minute read
International Edition

Amid Partnership Expansion, Paul Hastings Sees Double-Digit Boost in Profits and RPL

By Patrick Smith | February 22, 2024

Paul Hastings' equity tier grew by 2% while its nonequity tier surged by 14%.

5 minute read

International Edition

McDermott Sees 13% PEP Rise as Revenue Continues Steady Growth

By Patrick Smith | February 22, 2024

The firm said there was some underperformance in Europe compared with the firm's US output, but London revenue rose 31% in 2023.

5 minute read
International Edition

Consistent Demand and Increased Rates Help Dorsey Edge Closer to $500M Mark

By Andrew Maloney | February 21, 2024

Dorsey managing partner Bill Stoeri said the firm's U.K. revenue last year totaled about $12.26 million, the combined revenue from its offices in Shanghai, Beijing and Hong Kong reached almost $9 million, and its offices in Toronto and Vancouver brought in about $6.7 million.

5 minute read
International Edition

Quinn Emanuel's Revenue Up Nearly 28%, as PEP Rises More Than 38%

By Justin Henry | February 21, 2024

Roughly 8% of the firm's $2.07 billion in revenue came in the form of contingency fees, according to Michael Carlinsky, one of three co-managing partners at the firm.

4 minute read
International Edition

Garrigues Hits €454M Revenue as Firm Charts 10 Years of Growth

By Alex D'Elia | February 21, 2024

However, the firm's growth trajectory has slowed, with leaders citing 'global geopolitical crisis and political and institutional instability'.

3 minute read
International Edition

Akin Gump Revenue and PEP Up Double Digits as Aggressive Hiring Pays Off

By Brenda Sapino Jeffreys | February 15, 2024

The firm's London office had a "fantastic year" and Akin also performed well in the Middle East, particularly in Dubai, where demand and lawyer head count grew, Chairperson Kim Koopersmith said.

5 minute read
International Edition

Bird & Bird CEO: 'We Want to be a €1B Law Firm in 5 Years'

By Jack Womack | February 15, 2024

With a current global revenue of €568.7 million, the target means the firm will have to nearly double its income by 2029.

3 minute read
International Edition

Impressive Gains at Quinn Emanuel, Hogan Lovells, Milbank Suggest A Healthy 2023 For Am Law 100

By Justin Henry | Dan Roe | February 13, 2024

"It's interesting to me that those in the top 50 did even better than those in the next 50," said Marci Taylor, a law firm strategy consultant and founder of Mantra Partner, in regard to early reports.

6 minute read
The Legal Intelligencer

Focused on Long-Term Profit Growth, Blank Rome Sees Strong 2023

By Amanda O'Brien | February 29, 2024

This is the fifth consecutive year in which net income growth surpassed 8.5%, coinciding with the course of the firm's five-year strategic plan.

6 minute read
Daily Business Review

Greenberg Traurig Sees 6% Growth in Revenue Amid Nonequity Tier Expansion

By Alexander Lugo | February 29, 2024

The moderate growth came after two years of faster pace in revenue growth, but CEO Brian Duffy says it's only a slowdown because 2021 and 2022 were such extraordinary years for the firm.

5 minute read
Texas Lawyer

Revenue Up at Jackson Walker, But Profits Per Equity Partner Dip With Transactional, Real Estate Work Down

By Brenda Sapino Jeffreys | February 28, 2024

While Jackson Walker, the state's largest Texas-only firm, only grew its revenue by 3.8% in 2023, its lawyer head count grew by 8.4% with substantial lateral hiring.

6 minute read
The American Lawyer

Holland & Hart Posts 22% PEP Bump Thanks to Strong Demand, Cost Management

By Dan Roe | February 28, 2024

Colorado's biggest law firm also increased gross revenue by 11.3% in 2023 as all major practice areas saw growth.

5 minute read
Daily Business Review

Greenspoon Marder's Revenue Growth Slowed, Profits Dropped As Headcount Grew During a Slow Year

By Alexander Lugo | February 28, 2024

The Fort Lauderdale-based firm saw revenue increase for the fourth straight year, but the 1.7% bump was far less than 2022's 16% surge.

5 minute read
The American Lawyer

'Detached': Why Big Law May Rethink Its Focus on Productivity

By Andrew Maloney | February 27, 2024

Now, there may be even greater emphasis on the profitability of a practice, not just hours.

7 minute read
Daily Report Online

Adams and Reese Sees Revenue, Profits Rise Sharply

By Thomas Spigolon | February 26, 2024

The firm increased its realization rate, from 105% in 2022 to 109% last year.

5 minute read
The American Lawyer

An Early Look: The 2024 Am Law 200 Financials

By ALM Staff | February 26, 2024

This feed is continually updated. So bookmark it, check back regularly, and stay tuned for the Am Law 100 and Second Hundred reports coming soon.

4 minute read
The American Lawyer

Has Big Law Finally Returned to a Point of 'Normalcy'?

By Andrew Maloney | February 26, 2024

"For the first time in years, firms don't seem to be harried by the tumultuous rollercoaster of events seen thus far during the 2020s," according to a legal industry report this month.

6 minute read
National Law Journal

'Steady Year in a Turbulent Market': McGuireWoods Surpasses $1B in Gross Revenue

By Abigail Adcox | February 23, 2024

McGuireWoods benefited from rate increases and also embraced alternative fee arrangements, including "very significant enterprise-wide flat fee type arrangements" and blended rates, said the managing partner.

4 minute read

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