Revenue Dips at Locke Lord, RPL Up Slightly, as Head Count Declines
The Dallas-based firm posted another year of declining head count, losing 4.6% of its lawyers in 2019.
February 11, 2020 at 03:47 PM
5 minute read
As it continued to shed lawyers for the fifth year in a row, Locke Lord saw gross revenue slip by 3.1% in 2019, while revenue per lawyer increased slightly.
Chair David Taylor said the small decrease in revenue is largely due to shrinkage in the total lawyer count—including the loss of a number of lawyers in the firm's Hong Kong office—and the fact that a contingency fee factored into 2018 financial results.
Taylor, who just completed his second year as chair of the Dallas-based firm, said he is focused on improving revenue per lawyer, which came in at $812,000 in 2019 and is up 1.5% from $800,000 in 2018. He called that increase a "good sign of healthy growth."
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