Dechert's revenue falls by $65m but profits edge up
Dechert saw profitability rise in 2010 despite a fall in revenue that knocked $65m (£41m) off the firm's top line, writes the Am Law Daily. The top 50 US law firm earned $648.6m (£410m) in revenue last year, compared to $713m (£451m) in 2009 and $815.9m (£516m) in 2008. The 9% annual fall in revenue coincides with a shrinking of the firm's overall headcount over the past three years, reflecting Dechert's heavy exposure to the structured finance and mortgage-backed securities markets.
Dechert saw profitability rise in 2010 despite a fall in revenue that knocked $65m (£41m) off the firm’s top line, writes the Am Law Daily.
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