Led by its intellectual property, products liability and political law practices, Perkins Coie's revenue grew 8.5% in 2019, and its head count surpassed 1,000 attorneys.

The firm's gross revenue was $934.8 million in 2019, compared with $861.7 million in 2018. Revenue per lawyer increased 1.2%, from $886,000 to $897,000, while profits per equity partner rose 6.5%, from $1.29 million to $1.37 million. Average compensation was up to $866,000, a 5.4% increase from 2018′s $822,000, while nonequity compensation rose 6.7%, from $158.3 million to $169 million. Net income rose 9.8%, from $225.8 million to $248 million.

"2019 was another really strong year for the firm, and a continuation of very steady growth over the last decade," said Bill Malley, Perkins Coie's managing partner. He noted that while overall demand has been "pretty flat" for legal services in the industries the firm works with, Perkins Coie has seen a 4.5% increase in demand for services.

"This is a very positive sign," he said. "Our clients are turning to us, and we're increasing our share of clients' legal services [needs]."

Malley said the firm's financial growth in 2019 was driven by better-than-anticipated success in its IP, products liability and political law practices, but that various other matters also played a role. The firm has had a relationship with Boeing for more than 100 years and is products liability counsel for the aircraft manufacturer. It also represented manufacturer Hitachi Zosen in insurance coverage litigation after the company's tunnel-boring machine was damaged. The firm also represented Nortek Security & Control in a three-patent case in the Southern District of California.

Perkins Coie's investigations practice in 2019 completed a yearlong, independent internal investigation into sex abuse at The Ohio State University. It created a 200-page report identifying 177 victims going back to the 1970s. On the political law side, where the firm focuses largely on the Democratic Party and associates, it filed 13 new lawsuits in the last three months of 2019 alone and secured a 5-4 U.S. Supreme Court decision in a Virginia redistricting case.

"We have high-performing practice groups with deep expertise of industry knowledge," Malley said. "That really attracted significant, high-profile client matters."

To keep pace with the workload, Perkins Coie's head count increased to 1,042 attorneys, a 7.1% rise. The firm has 181 equity partners, six more than in the previous year, and 301 nonequity partners, nine more than in the previous year. The firm hired the former chair of Vedder Price's employment class action group and an IP partner from Kirkland & Ellis in San Francisco, as well as a finance and fintech partner in New York from an in-house position at BNY Melon.

The firm in 2020 has already looked for further growth. It opened an Austin office last month and is otherwise looking for strategic expansion opportunities in major markets where it already has a strong presence, including the Bay Area, Chicago, New York, Washington, D.C., and Seattle.

Perkins Coie also hired a chief marketing officer in January and is planning to invest more in developing its C-suite, professional development and diversity initiatives, Malley said.

"The business side of the firm is an equally important part of the way we run our business," he said, noting that in addition to business-side hires and attorney development opportunities, Perkins Coie has placed a greater emphasis on diversity and inclusion in 2019 and plans to continue investing in diversity initiatives. The firm adopted a new diversity and inclusion plan for 2020 that aims to champion those principles throughout the entirety of the firm, including how it approaches business development, recruitment, retention, reviews and promotions.

Malley also said the coronavirus has caused the firm to adjust its expectations as it shifts to the "new normal." As of March 16, the entire Perkins Coie team, including staff members, is working remotely, which he said was going well so far thanks to firmwide support for the decision.

"I know coronavirus will disrupt not only businesses, but also the economy as a whole as well as life and society," he said. "I don't know what that involves specifically, but we know we have to plan for significant change."

As the firm is making this transition, it is fielding more COVID-19-related calls from its clients, who are seeking advice on employment law, insurance coverage, contracts and other workplace questions during a time when many nonessential businesses across the country close and companies shift to remote work.

"We're working with clients to help them manage their response to the coronavirus, and I expect that to continue in the coming months," Malley said.