After making a brief return to topline growth in 2011, Mayer Brown’s financial performance slipped back into decline in 2012, according to The American Lawyer‘s reporting.
Mayer Brown had seen revenue bounce back in 2011 to reverse two consecutive years of negative growth, but the firm suffered a fresh slump in 2012, with gross revenue dropping 3.7 percent to a six-year low of $1.09 billion. Net income fell even more steeply, tumbling 6.2 percent to $304 million, which resulted in a 2.5 percent slide in profits per partner, to $1.15 million. Revenue per lawyer actually inched up 0.7 percent to $750,000, however, thanks to a reduction in total attorney head count of more than 4 percent, from 1,523 to 1,457the smallest the firm has been since 2007. Mayer Browns profit margin, meanwhile, dipped 1 percentage point, to 28 percenta full 5 percentage points below its 2007 level, but still 2 percentage points higher than the firm achieved in 2010.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
