C. Wade Cooper partner with Jackson Walker Revenue Up at Jackson Walker, But Profits Per Equity Partner Dip With Transactional, Real Estate Work Down
While Jackson Walker, the state's largest Texas-only firm, only grew its revenue by 3.8% in 2023, its lawyer head count grew by 8.4% with substantial lateral hiring.
February 28, 2024 at 03:20 PM
6 minute read
What You Need to Know
- Revenue at Jackson Walker grew by 3.8% in 2023, but revenue per lawyer dropped by 4.2% and profits per equity partner declined by 9.5% as the firm grew substantially.
- Transactional and real estate work was down in 2023, but litigation was very busy.
- The firm faces litigation related to issues with its bankruptcy practice, after a Houston bankruptcy judge resigned amid controversy over a romantic relationship with a former Jackson Walker partner.
After a string of record years, Jackson Walker posted less spectacular numbers for 2023, improving its revenue by 3.8%, but with substantial lawyer and equity partner head count growth, revenue per lawyer slipped by 4.2% and profits per equity partner dropped by 9.1%, as transactions and real estate work slowed.
The uncharacteristically tepid financial results come as the firm deals with a potential hit to its bankruptcy practice revenue stream and possible disgorgement of fees in the wake of the October resignation of U.S. Bankruptcy Judge David Jones of the Southern District of Texas, who was involved in a romantic relationship with former Jackson Walker bankruptcy partner Elizabeth Freeman.
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