The Am Law 100, the Early Numbers: Venable Crosses $1M Partner-Profit Threshold

Last year brought several changes that keep the Baltimore-founded law firm in competition among the Am Law 100. The firm is one year away from moving into a yet-to-be-completed Washington headquarters building, in the burgeoning Mt. Vernon Triangle neighborhood.

It also rolled out new accounting software so attorneys can work on project management more closely, Meyer said.

For attorney head count from 2014 to 2015, Venable added 32 full-time lawyer positions. One-third of the new positions came in the nonequity-partner rank. The equity partnership decreased by one to 162 partners.

The firm’s San Francisco office has become emblematic of Venable’s growth. Two years ago, the office opened with three partners who could offer litigation, corporate law, and technology and privacy expertise to Bay Area clients. Last year the office outgrew its space and moved to a building in San Francisco’s financial district that would accommodate several more partners, including both new hires and lawyers splitting time with other cities.

In Washington, Venable landed on the shortlist of firms that hired outgoing U.S. senators after the 2014 election. Sen. Mark Pryor, a Democrat and former Arkansas attorney general, joined with a focus on launching a state attorneys general practice for the firm. The firm wanted an attorneys general practice to assist the advertising group’s clients, Meyer said. Since then, the work has expanded out.

Pryor is now head of the legislative and government-affairs practice group at Venable.

As for the coming year, Meyer predicted a steady but “cautiously optimistic” approach to growth.

“People ask if 2016 will bring an international office to Venable. Probably not,” she said. “We’re opportunistic, but we’re also careful. We look for the right business fit. We’re not a firm that will have an office in every city.”

This report is part of ALM’s early coverage of 2015 financial results of The Am Law 100/200. Final rankings and full results for The Am Law 100 will be published in The American Lawyer’s May 2016 issue and on AmericanLawyer.com. Am Law Second Hundred rankings will be published in the June issue.