Philadelphia’s top-ranking firms in the Am Law 200 grew revenue and profits by double digits in 2021, reflecting the overall industry’s unprecedented levels of demand for corporate and transactional legal services.

But with the city’s lower concentration of money-making industries compared to New York and Chicago, Philadelphia-based firms focused growth on tier-one cities to cash in on the high volume of SPAC formations, capital market transactions and M&A activity. The 2021 fiscal year saw firms native to the City of Brotherly love, such as Blank Rome and Duane Morris, double down on expanding their offices in New York, California and Texas to claim their piece of the corporate deal-making pie.