March 14, 2023 | The American Lawyer
Big Law Works 'Around the Clock' as Clients Navigate SVB CollapseAs clients scrambled to access and move funds from Silicon Valley Bank accounts over the weekend, many law firms quickly pivoted to provide resources and guidance.
By Jessie Yount | Justin Henry
7 minute read
March 13, 2023 | The Legal Intelligencer
Dechert Follows 50% Profit Increase With 14% Drop, Epitomizing Big Law Business Cycle"The better your 2021 was, the harder your 2022 was going to be," said CEO Henry Nassau.
By Amanda O'Brien | Justin Henry
7 minute read
March 09, 2023 | The Legal Intelligencer
Despite 6% Revenue Growth, Profits Stagnate at Duane Morris Due to Q4 Hiring SpreeThe firm's leaders pointed to a more hesitant transactional client base in concert with 49 lawyer hires during the final quarter of 2022.
By Justin Henry | Amanda O'Brien
6 minute read
March 08, 2023 | The American Lawyer
To Improve DEI Outcomes, Firms Must Address Pitches and Work Allocation, Consultants Say"We can't just be focused on events and activities, and we can't just be focused on changing hearts and minds," said Alexis Robertson, director of diversity, equity and inclusion at Foley & Lardner. "It has to be more of a systems-focused approach."
By Justin Henry
6 minute read
March 08, 2023 | The American Lawyer
Equity Partner Profits Drop 14% at Armstrong Teasdale as Leaders Invest in Firm 'Infrastructure'"We opened a number of new offices and a number of office buildouts. All of that added to our expenses," said managing partner Patrick Rasche.
By Justin Henry
4 minute read
March 03, 2023 | The American Lawyer
Taft Outpaced Peers in 2022 Due to Merger With Detroit FirmA combination with Jaffe Raitt Heuer & Weiss helped the firm grow revenue by 32%, hitting $549 million.
By Justin Henry
5 minute read
March 02, 2023 | The Legal Intelligencer
Litigation Drives Cozen O'Connor's 5.9% Revenue Increase in 2022Leaders have also sought to economy-proof the firm by developing niche practices and affiliate companies that clients can't find at competitors.
By Justin Henry
5 minute read
March 01, 2023 | The American Lawyer
Steptoe & Johnson LLP Grows PPE 7% Despite Pre-Paying $20M in 2023 CostsIn-demand areas of legal representation and efficiencies derived from investments in business functions put the firm in a fortuitous financial position heading into the current year.
By Justin Henry
4 minute read
March 01, 2023 | Pro Mid Market
Midsize Firms Have Pervaded the 2023 Merger Market. Here's Why That Should Continue."It seems that every law firm out there wants to be double the size they are now, no matter what size they are now," said one firm leader.
By David Gialanella | Justin Henry
7 minute read
February 28, 2023 | The American Lawyer
Flat Profits at Faegre Drinker as Transactional Work Declined and Expenses MountedWhile some of the firm's corporate and transactional practices softened in 2022, leaders said that change highlighted the importance of maintaining a roughly 50/50 balance between litigation and corporate work.
By Justin Henry
6 minute read
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