Am Law 200 Rankings Bring Bad News for Some NY Firms
In contrast to the double-digit growth enjoyed by many top Wall Street firms, most New York firms in the bottom half of the Am Law 200 saw little to no expansion last year, according to financial rankings released Wednesday by The American Lawyer.
May 24, 2017 at 06:04 PM
4 minute read
In contrast to the double-digit growth enjoyed by many top Wall Street firms, most New York firms in the bottom half of the Am Law 200 saw little to no expansion last year, according to financial rankings released Wednesday by The American Lawyer.
That reflects a broader trend of Second Hundred firms across the country showing only small signs of revenue or profit growth in 2016.
At 103rd-ranked Hughes Hubbard & Reed, gross revenue tanked 10.9 percent to $322 million. That led the firm, previously ranked 90th among the country's highest-grossing firms, to fall out of the Am Law 100 entirely. Profits per partner fell by 14.7 percent to $1.625 million, while revenue per lawyer dropped by 3.1 percent.
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