Law Firm Profitability

International Edition

Slaughter and May Debuts on AIM 100 Adviser Rankings

By Habiba Cullen-Jafar | October 30, 2023

Fieldfisher takes top spot in the rankings for the London Stock Exchange's alternative market.

3 minute read

International Edition

Over 30 Stroock Partners to Join Hogan Lovells As NY Firm's Prospects Appear Bleak

By Justin Henry | Patrick Smith | October 27, 2023

The partner moves from Stroock amount to more than half of its partnership, creating an even more bleak future for the New York law firm that was founded nearly 150 years ago.

5 minute read
International Edition

'It Takes a Long-Term View': How Mills Oakley Has Kept Up Its Remarkable Growth

By Christopher Niesche | October 23, 2023

The Australian firm, which is now a national legal brand, has enjoyed 18 years of consecutive double-digit revenue growth.

5 minute read

International Edition

KPMG Law 'Moving Towards' £100M Target

By Jack Womack | October 19, 2023

Like its rival Deloitte Legal, KPMG's legal arm is expected to land in the UK Top 50 in the next two or three years.

2 minute read
International Edition

Deloitte Legal Closes in on UK Top 50 as Revenue Rises Over 20%

By Jack Womack | October 11, 2023

Deloitte Legal's total lawyer headcount in the UK has also increased and is now comparable with some of the country's Top 50 law firms.

3 minute read
International Edition

Weil Gotshal London Profits Dropped Steeply Last Year Amid Economic 'Challenges'

By Habiba Cullen-Jafar | October 10, 2023

The firm's recently-filed LLP accounts also show its top-earning partner took home £1.7 million in 2022, 34% less than in the previous year.

2 minute read
International Edition

Holding Client Money Could Face Increased Regulatory Scrutiny

By Charlotte Johnstone | October 8, 2023

Enhanced regulation of other sectors, like banking, could be a warning sign for law firms of increased scrutiny to come, one UK lawyer has warned.

2 minute read
International Edition

Weil Refreshes London Leadership as Mike Francies Set to Retire

By Habiba Cullen-Jafar | October 6, 2023

The London managing partner is set to retire at the end of 2024 after over 20 years at the helm.

2 minute read
International Edition

Optimism About Profitability Declines Among Law Firm Leaders

By Dan Roe | October 5, 2023

A recent survey of managing partners, COOs, CFOs, pricing chiefs and other senior law firm professionals at 50 firms in the U.S., Canada, the United Kingdom and Europe showed a signifcant decline in profitablility satisfacton.

3 minute read
International Edition

Paul Weiss Rockets Up Europe M&A Rankings, as Slaughters Slides in the UK

By Habiba Cullen-Jafar | October 4, 2023

Only 3 of the top 15 law firms for European M&A in 2023 to date were firms founded in Europe

4 minute read
The American Lawyer

Aggressive Rate Hikes, Head Count Management Helped Am Law 50 Squeeze Profits From Sluggish Demand in Q4

By Dan Roe | February 12, 2024

The Am Law 50 finished the fourth quarter with nearly 8% more fees worked than Q4 2022 despite a decline in demand, according to a new Thomson Reuters report.

3 minute read
The American Lawyer

Law Firms Witnessed a 'Return to Profit Growth' in 2023

By Justin Henry | February 9, 2024

After profits per equity partner dipped by 5.7% in 2022, they climbed by 6.6% in the last year, according to data from Citi's Global Wealth at Work Law Firm Group.

5 minute read
Daily Report Online

Kilpatrick, 'Getting Deeper and Broader' With Largest Clients, Sees 13% Profit Growth

By Thomas Spigolon | February 8, 2024

The Atlanta firm decreased its equity partner tier by 7.6% to 106 partners, while its nonequity partner ranks expanded by 6% to 146.

5 minute read
Daily Report Online

Atlanta Law Firms See Faster Profit Growth, Despite Slowdowns in Revenue

By Thomas Spigolon | February 8, 2024

Firms have shifted their leverage models, helping to bump up profits per equity partner for a second year, said Wells Fargo.

5 minute read
National Law Journal

Billing Rate Increases and Demand Growth Push DC Firms to Strong Financial Year

By Abigail Adcox | February 8, 2024

"D.C. was our best-performing region," said Owen Burman, of Wells Fargo Legal Specialty Group. "The regulatory side was on fire for so many firms."

3 minute read
The American Lawyer

'D.C. Was Our Best-Performing Region': Billing Rate Increases and Demand Growth Drive Strong Year in the Beltway

By Abigail Adcox | February 8, 2024

In average revenue growth, D.C. firms exceeded peers in New York City, California, Texas, Florida, Chicago, Philadelphia and Atlanta, according to Wells Fargo data.

3 minute read
Daily Business Review

Phila.-Based Weber Gallagher Opens Florida Outpost With Fowler White Partner

By Amanda O'Brien | February 7, 2024

"I don't want to sound pessimistic, but the time of the smaller insurance defense shop is probably going away," said Weber Gallagher chairman Andrew Indeck.

4 minute read
National Law Journal

Arnold & Porter Sees Revenue and Profits Jump, With PEP Rising 15% to $1.6M

By Abigail Adcox | February 6, 2024

The environment for counsel on government-facing issues was "quite strong" last year, driving demand across the firm's litigation, transaction and regulatory practices, said chairman Richard Alexander.

3 minute read
Texas Lawyer

Energy Sector Work Led to Higher-Than-Average Revenue Jump for Homegrown Texas Law Firms Last Year

By Brenda Sapino Jeffreys | February 2, 2024

A group of homegrown Texas firms did better than the industry average in a number of financial metrics in 2023, according to a Wells Fargo Legal Specialty Group year-end survey.

3 minute read
The American Lawyer

Cravath Enters Modern Era of Big Law Amid Regular Rate of Partner Exits

By Patrick Smith | February 2, 2024

"The tweaking of their model may have stopped some people from leaving, but they don't seem to be leveraging the other aspect of breaking lockstep to expand and grow," noted one observer.

8 minute read

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