Citi: DC Law Firm Revenue Trails US, But Bright Spots Remain
Even with higher expenses eating away at firms' bottom lines, many have reason to hope for a relatively strong year.
September 06, 2019 at 02:53 PM
3 minute read
Washington, D.C., law firms' revenue growth lagged behind the national average in the first half of 2019, according to Citi Private Bank's Law Firm Group, but there are still reasons to be upbeat about the rest of the year.
Jeff Grossman of Citi Private Bank said the 15 D.C. firms included in the bank's recent survey showed revenue growth of 3% in the first half of 2019, as compared to 5.9% industrywide.
"It, to me, is very much in line with where the D.C. marketplace has been with moderate growth," Grossman said. "I would describe it as more moderate growth, [rather than] soft or modest growth."
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