Todd Rodriguez, firmwide managing partner-elect of Fox Rothschild. Courtesy photo Second-Half Demand Increases Buoyed Fox Rothschild in 2023
The firm, like a number of peers, saw its equity partnership contract and its nonequity partnership expand.
April 05, 2024 at 03:23 PM
5 minute read
What You Need to Know
- Fox Rothschild saw increased revenue balanced by increased costs in 2023, with an unexpected surge in demand in the second half.
- Although costs increased for the firm, managing partner Todd Rodriguez noted that the firm invested in upgrading several of its offices and shrinking its footprint for longer-term cost savings.
- Rodriguez also took note of an increased collections cycle, expecting the trend to continue in the short term for 2024.
A surprise second-half rise in demand combined with increasing costs defined Fox Rothschild's mixed financial results for 2023.
The firm, which saw former health law co-chair Todd Rodriguez step in as firmwide managing partner in April 2023, posted a 4% increase in gross revenue, coming in at $694.7 million, and a 4.2% decrease in net income, which dropped down to slightly over $200 million.
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