Kramer Levin Neftalis & Frankel’s co-managing partner Howard Spilko was (and is) a dealmaker before he was a Big Law firm leader. He knows a bit about the cycles, the ups and downs and the uncertainty of the deal world.

His firm had what could be considered a “typical” year for Big Law in 2022. It saw a modest reduction in revenue and further reductions in profitability numbers compared to 2021, and like many firms that are in the same boat, the comparative lack of deal activity was a driving force for those results.