The firm's leaders pointed to a more hesitant transactional client base in concert with 49 lawyer hires during the final quarter of 2022.
March 09, 2023 at 12:20 PM
6 minute read
Reporter
Duane Morris saw a slight decline in its profitability last year due to aggressive hiring that countered the firm’s revenue gains.
Although gross revenue at the Philadelphia-born Am Law 100 firm increased 5.8% to $631.3 million in its latest financial year, profits per equity partner decreased 2.9% to $1.23 million, down from $1.26 million in 2021.
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Duane Morris CEO Matthew Taylor. (Courtesy photo)
