Low single-digit revenue growth isn’t normally cause for celebration. But at Boston’s Brown Rudnick, boosting gross revenues by less than 2 percent (to $146 million) translated—after a big reduction in head count—to increases of about 15 percent in revenue per lawyer and profits per partner, to $815,000 and $975,000, respectively.
It’s a turnaround from 2008, when the firm saw profits per partner drop by 2 percent and revenue per lawyer decrease by more than 15 percent. Firm CEO Joseph Ryan says that Brown Rudnick benefited from cost-cutting measures undertaken in mid- to late 2008 and a strong 2009 in bankruptcy practice and litigation, particularly for clients involved in disputes over federal contracts.
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