In a year in which Reed Smith underwent a major leadership change, the firm finished out 2013 with a 6.1 percent rise in gross revenue and a 5.5 percent increase in partner profits.
Reed Smith grew gross revenue to an all-time high of $1.075 billion in 2013 from $1.013 billion in 2012. That was due in large part to a 5.9 percent growth in headcount from 1,468 lawyers to 1,555 attorneys last year. The bulk of that growth was from office launches in Houston and Singapore toward the earlier part of 2013 that gave the firm time to reap the revenue those new lawyers eventually began to generate.
