Law Firm Profitability

International Edition

Reelected Hogan Lovells CEO Says Merger Still a Possibility, Highlights Other Paths to Growth

By Justin Henry | September 5, 2023

"I don't want to talk to firms that have huge pension commitments or revenue drops because of partner departures or that are suffering in branding recognition. We would like to be opportunistic and associate ourselves with winners," said Miguel Zaldivar.

6 minute read

International Edition

DWF Profits Slide Ahead of Private Equity Takeover

By Jack Womack | August 25, 2023

Though the UK listed law firm's revenue edged up, the firm's leaders said they did not expect to undertake 'any material M&A in the short term' due to economic pressures.

2 minute read
International Edition

White & Case UK Accounts Show Stagnant Profit Despite Turnover Boost

By Habiba Cullen-Jafar | August 25, 2023

The LLPs also showed that the firm made almost £3 million more from currency exchange rate fluctuations in the past year.

3 minute read

International Edition

Big Law in the US Is Still Grasping for the 'Other Side' of Uncertainty

By Andrew Maloney | August 22, 2023

Firms benefitted from 7.7% average billing rate increases in the first half, Wells Fargo said, noting they are continuing to absorb productivity hits in the hopes of getting to the "other side" of the economic storm.

4 minute read
International Edition

Fieldfisher Makes 2 Partner Hires in Madrid From Dentons, Jones Day

By Alex D'Elia | August 16, 2023

UK firm plans to increase Spanish revenue by 50% by 2025.

4 minute read
International Edition

CMS Sees Slowdown in Global Revenue Growth

By Jack Womack | August 8, 2023

The firm has promoted a record number of partners globally over the past year.

2 minute read
International Edition

Stewarts Suffers 55% PEP Drop, Reversing Last Year's Fortunes

By Habiba Cullen-Jafar | August 4, 2023

The managing partner pointed to his firm's 'non-linear' revenue, and said the firm still had 'good core income'.

2 minute read
International Edition

Bird & Bird Continues Growth with Double-Digit Revenue

By Aishah Hussain | August 3, 2023

The firm has added 11% to its top line while profit growth has eased.

2 minute read
International Edition

Addleshaws Bucks Trend and Enjoys Double Digit Revenue and Profit Boost

By Habiba Cullen-Jafar | August 3, 2023

The firm enjoyed an 18% increase in revenue.

2 minute read
International Edition

Dentons UKIME Arm Posts Modest Growth with 2% Revenue Uplift

By Brian Yap | August 2, 2023

£38 million of revenue came from inbound work outside the UKIME region, an 8.6% increase.

2 minute read
Law.com

Lawyers Detest Law Firms' Overemphasis on Profitability: The Morning Minute

By Zack Needles | January 24, 2024

The news and analysis you need to start your day.

4 minute read
The American Lawyer

A 'Sweatshop'? Lawyers Detest Law Firm Cultures That Emphasize Profitability

By Andrew Maloney | January 23, 2024

"Profit-mindedness" was identified as the top law firm culture trait that inspires lawyers' negative feelings toward their firms.

5 minute read
Law.com

Your Clients Are Leaving Without Telling You: The Morning Minute

By Zack Needles | January 23, 2024

The news and analysis you need to start your day.

4 minute read
Corporate Counsel

Big Law Has 'False Sense of Security' as Clients Depart for Midsized Firms

By Hugo Guzman | January 22, 2024

Since the financial crisis of 2007-2008, "market power shifted decisively from law firms to the clients, rapidly moving from a sellers' to a buyers' market for legal services," a new report from Thomson Reuters and Georgetown Law says.

5 minute read
Law.com

Lack of Confidence in Fees and 'Subtle Psychology' May Hinder Profit: The Morning Minute

By Zack Needles | January 19, 2024

The news and analysis you need to start your day.

4 minute read
The American Lawyer

King & Spalding's Journey to Best Law Firm of the Year

By Thomas Spigolon | January 18, 2024

"If you don't have the talented people who are committed to the clients, then you can't grow revenue and profitability above the average like we've been able to do consistently for a decade," said chairman Robert Hays.

7 minute read
The American Lawyer

Even As Billing Rates Increase, Lack of Confidence in Fees and 'Subtle Psychology' May Lead to Less Profit

By Andrew Maloney | January 17, 2024

The majority of law firms believe write-offs will increase over the next year, even after many firms made these billing adjustments in 2023, according to new results of a survey of firm leaders.

5 minute read
Legaltech News

Legal Tech's Predictions for the Business of Law in 2024

By Stephanie Wilkins | January 17, 2024

Legal industry experts give their predictions for what how we can expect to see the business of law disrupted in 2024.

11 minute read
Law.com

Will Upcoming Reforms Finally Unshackle UK Capital Markets? Partners Weigh In

By Habiba Cullen-Jafar | January 17, 2024

Partners ranging from Latham's Mark Austin and Weil's Murray Cox are upbeat on expected changes that could break open London's faltering stock market—but do the reforms go far enough?

10 minute read
The American Lawyer

Paul Weiss Hides Partner Pay Inside 'Black Box,' as Firm Shells Out for Top Laterals

By Justin Henry | January 11, 2024

The adoption of a nontransparent pay system comes as firm leaders seek to reduce internal tensions as the spread of compensation expands.

3 minute read

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