Mayer Brown Boosts Revenue, Profits, Aided by Growth in Europe and Asia
The firm plans to emphasize U.S. growth in coming years, especially in California and New York.
February 25, 2020 at 05:30 AM
5 minute read
The original version of this story was published on The American Lawyer
Rising client demand helped drive Mayer Brown to new financial heights last year, pushing revenue at the Chicago-based global firm up 6.8% to just over $1.48 billion. Profits per equity partner grew 6.5% to over $1.8 million.
The firm's 1,632 lawyers logged 5.1% more client-chargeable hours in 2019 compared to 2018. That's a far greater uptick than Citi Private Bank and Wells Fargo Private Bank Legal Specialty Group reported in industrywide survey results for the year, finding demand increases of 1.1% and 1.4%, respectively.
Mayer Brown chairman Paul Theiss sees the results as proof the firm is on the right track: "We're excited that 2019 represented a year of more considerable progress for the law firm."
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