It was a transformative 2017 for Stroock & Stroock & Lavan, a prominent New York firm that has faced sluggish revenue and profit growth since the financial crisis.

The firm de-equitized about 21 partners, creating a new multitiered partnership structure, and it spelled out its expectations for equity partners. It increased its leverage, tightened its focus on core practices and dove into pricing analytics, among other changes last year.