US briefing: No place to hide
Much like their Am Law 100 counterparts, the second hundred firms struggled in 2009 under the twin burdens of decreased transactional work and increased client sensitivity to litigation costs. With their regional footprints and (in some cases) more narrow practice focuses, second hundred firms had better year-on-year rates of growth than Am Law 100 firms as the recession took hold during 2008. But in 2009 the group stumbled in two key areas. Its average profits per partner fell 0.3%, to $646,926 (£442,000), while The Am Law 100's rose 0.3%. Second hundred revenue per lawyer (RPL) dropped 2%, to $575,855 (£394,000), a slightly worse showing than The Am Law 100's 1.9% fall.
The recession’s impact wasn’t confined to America’s top 100 firms – the second hundred felt the pain too. Drew Combs reports
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