Dechert global co-chairs Mark E. Thierfelder, left, and David W. Forti, right. Courtesy photo Revenue Flattens at Dechert, But Firm Sees 'Turnaround' in Interest Rate-Sensitive Practices
"The last three years, when you look at them as a whole, were the best three years we've ever had," said co-chair David Forti.
March 29, 2024 at 04:36 PM
6 minute read
Law Firm Profitability
What You Need to Know
- Revenue grew by less than half a percent while profits per equity partner sank 1.2% at Dechert in 2023.
- Firm leaders say income losses in rate-sensitive practices were counter-balanced by private credit lending and antitrust activity.
- Since interest rates began to stabilize in December, leaders said demand for transactional legal support began to rebound.
In the two financial years since Dechert's striking 49% profitability growth and 25% revenue growth, the global law firm has seen profits per equity partner and revenue sink 15% and 3.5%, respectively.
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