San Francisco Bay Area. Credit: canadastock/Shutterstock.com Corporate Activity Fuels 'Exceptional' Demand at Calif. Firms in 2021
California firms outperformed the legal industry in other regions, with big revenue and profit growth in the first half.
September 03, 2021 at 12:36 PM
3 minute read
Compared with the rest of the U.S. legal market, California law firms saw the strongest gains in revenue and demand in the first half of 2021, in large part due to record M&A activity and corporate transactions, according to the Wells Fargo Private Bank Specialty Group.
Revenue and net income at California firms increased 19% and 38%, surpassing the national average of 14% and 36%, respectively. Wells Fargo's nationwide results are from a survey of 110 law firms, half of which are included in the Am Law 200. There were 20 California-based firms among the respondents.
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