Pennsylvania's Largest Firms by Revenue Saw Gains in 2019
All but one of the 10 locally founded firms in the Am Law 100 saw gross revenue grow in 2019.
April 21, 2020 at 02:33 PM
3 minute read
The 2020 Am Law 100.
A majority of the 10 Pennsylvania-founded law firms included in the latest Am Law 100 rankings gained ground this year, as all but one saw gross revenue increase in 2019.
The greatest leap in the ranking was by Fox Rothschild, which jumped five spots from last year, to 69th on the Am Law 100, after growing gross revenue by 11.4% to $555 million.
The biggest decline was by Drinker Biddle & Reath, which fell 11 places to 90th and posted a revenue decline of 4.1% for the 2019 fiscal year, just before it officially combined with Midwest-based Faegre Baker Daniels. It was the only Pennsylvania-born firm in the Am Law 100 to see gross revenue shrink.
Morgan, Lewis & Bockius was once again the largest locally founded law firm by revenue. The firm increased gross revenue by 8.1% to $2.265 billion, jumping from No. 8 on the national ranking last year up to No. 7 this year.
Among all 100 firms in the rankings, gross revenue grew by 5% to a record-breaking $104 billion, while revenue per lawyer increased by 3% to $1,001,289. Average profits per equity partner grew by 5% for the 100 large firms.
While it was a strong year for the industry, it didn't match 2018, when the Am Law 100 grew gross revenue by 8%.
| Firm | 2020 Rank | 2019 Rank | Gross Revenue | % Change |
| Morgan Lewis | 7 | 8 | $2,265,000,000 | 8.1% |
| Reed Smith | 26 | 27 | $1,246,926,000 | 6.1% |
| Dechert | 33 | 36 | $1,135,502,000 | 11.1% |
| K&L Gates | 39 | 37 | $1,026,626,000 | 1.9% |
| Fox Rothschild | 69 | 74 | $555,000,000 | 11.4% |
| Cozen O'Connor | 73 | 76 | $517,301,000 | 9.4% |
| Duane Morris | 74 | 75 | $510,341,000 | 3.8% |
| Blank Rome | 80 | 81 | $474,010,000 | 7% |
| Drinker Biddle | 90 | 79 | $431,075,000 | -4.1% |
| Ballard Spahr | 91 | 91 | $420,935,000 | 1.5% |
Read More
The Am Law 100 Found Success in 2019. Will It Be Enough in 2020?
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