Latham Revenues Surge To $3.76 Billion on Strong Demand
Partner profits were also up significantly in what chairman Richard Trobman called an "absolutely amazing year."
February 26, 2020 at 10:00 AM
6 minute read
The original version of this story was published on The American Lawyer
Latham & Watkins posted double-digit revenue gains for the second year in a row in 2019, boosting its top line by 11.3% to just over $3.76 billion.
The firm's growing equity partner tier saw profits rise at nearly the same clip. Profits per equity partner reached $3.78 million, up 9.5% from 2018, and revenue per lawyer rose 3.9% to almost $1.4 million.
Echoing other firms, Latham credited strong demand for what chair and managing partner Richard Trobman called an "absolutely amazing year." Last year, the firm's 2,720 lawyers increased their client-chargeable hours by 8%—far outpacing an industrywide demand uptick of 1.1% reported recently by Citi Private Bank's Law Firm Group.
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