Stephen M. Forte managing partner and chairman of the executive committee of Smith, Gambrell & Russell. (Courtesy photo) Smith Gambrell Sees Revenues Grow, Profits Fall Amid 2023 Merger
"We viewed '23 as an important investment year for us to bring more scale for us and to be present in one of the major markets in a bigger way," said managing partner Stephen Forte.
April 24, 2024 at 01:16 PM
3 minute read
What You Need to Know
- Smith, Gambrell & Russell saw its revenues rise for at least a ninth straight year in 2023.
- But its profits fell as it absorbed the costs associated with its April merger with Chicago-based Freeborn & Peters.
- Revenues rose 18% to $216 million but average profits per equity partner decreased 15% to $1.18 million in 2023.
Smith, Gambrell & Russell saw its revenues rise for at least a ninth straight year in 2023 but its profits fell as it absorbed the costs associated with its April merger with Chicago-based Freeborn & Peters.
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