On January 1, Minneapolis-based Faegre & Benson and Indianapolis-based Baker & Daniels merged to create 700-lawyer Faegre Baker Daniels. In the year ahead of the tie-up, the two firms showed mixed financial results, with Baker’s gross revenue climbing 3.8 percent and Faegre’s dipping 0.8 percent, according to The American Lawyer’s reporting.
Baker took in $175.5 million in gross revenue in 2011, up from $169 million in 2010. As for other key financial metrics, the firm’s overall attorney head count decreased by 1.8 percent, or five lawyers, its revenue per lawyer jumped 5.8 percent to $640,000, and its profits per partner rose 3.8 percent to $680,000.
