3 Big Florida Firms Remain on the Am Law 100
Greenberg Traurig, Holland & Knight and Akerman continue to rank among the nation's 100 highest-grossing firms.
April 24, 2018 at 05:31 PM
2 minute read
Credit: Jon Valk
Three large Florida firms were among the nation's highest-grossing firms in 2017, ranking on the 2018 Am Law 100 published Tuesday.
Greenberg Traurig ranked 14th, the same position it held last year. Holland & Knight, at the 42nd spot on the list, also matched its ranking from the previous Am Law 100 list. But Akerman ranked 94th in this year's Am Law 100, up from No. 97 last year.
Read More: The 2018 Am Law 100
Greenberg Traurig posted $1.48 billion in revenue in 2017, up 7.2 percent from the previous year, making it one of 31 firms that brought in more than a billion in revenue in 2017. Holland & Knight's revenue came in at $848.2 million in 2017, up 5.6 percent from 2016, and Akerman's revenue totaled $385.2 million, up 10.4 percent from the previous year.
The rankings on the Am Law 100 show that the Florida firms held their own in the market of big firms. Revenue for the 100 firms grew by 5.5 percent to a record $91.4 billion, and net income increased by 6.1 percent in 2017. Revenue per lawyer improved 3.2 percent to $936,655 and profits per equity partner increased by 6.3 percent to $1.8 billion.
RPL is considered by many a reliable guide to a firm's success, and all three of the big Florida firms improved that metric in 2017. Holland & Knight had the highest RPL among the Florida firms with $786,000, up 5.1 percent from 2016. Greenberg Traurig's RPL was $760,000, up 4 percent, and Akerman improved its RPL by 4.3 percent with $611,000.
Greenberg Traurig posted the highest PPP in 2017 among the Florida firms with $1.6 million, up 5.6 percent from the year before. PPP was $1.4 million at Holland & Knight, an increase of 5.4 percent, and Akerman's PPP totaled $672,000, up 2.1 percent from the prior year.
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