Last year marked the 50th anniversary of Munger, Tolles & Olson’s foundingand the second straight year that the Los Angeles firm saw a double-digit increase in its profits per partner. The firm’s PPP rose 16 percent, to $1.57 million in 2012, on the heels of an 11 percent uptick in 2011. Its gross revenue, meanwhile, grew nearly 5 percent, to $213.5 million, and its revenue per lawyer inched up 2.4 percent, to $1.23 million.
"We had a fantastic year," says managing partner Sandra Seville-Jones, who notes that the firm managed to keep expenses relatively flat compared to 2011. Munger also fared better in terms of collections in December than it did during the same month a year earlier, she says.
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