Schulte Roth Holds Steady With Modest Increases in Its 2016 Financial Results
The firm's key financial metrics grew by less than 3 percent.
April 03, 2017 at 05:25 PM
3 minute read
Schulte Roth & Zabel posted modest increases in its financial results in 2016, seeing its gross revenue edge close to $410 million and profits per partner approach $2.4 million.
Following a steady 2015, the firm's key financial metrics all grew by less than 3 percent in 2016. Gross revenue jumped up $4 million to $409.5 million in 2016, a 1 percent increase over 2015, while the firm's net income of $198.5 million in 2016 marked a 0.3 percent increase over the prior year.
The firm saw slightly larger percentage increases in profits per partner, which grew by 2.6 percent to $2.39 million in 2016, and in revenue per lawyer, which increased 2.2 percent to $1.165 million in 2016. Schulte Roth saw a slight decline in its lawyer head count, however. The total number of lawyers shrank to 351 in 2016 from 355 in 2015, and the firm's equity partner ranks dropped to 83 lawyers in 2016, compared with 85 in the prior year.
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