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National Law Journal

Arnold & Porter Sees Revenue and Profits Jump, With PEP Rising 15% to $1.6M

The environment for counsel on government-facing issues was "quite strong" last year, driving demand across the firm's litigation, transaction and regulatory practices, said chairman Richard Alexander.
3 minute read

International Edition

Freshfields Takes On Bank Debt for First Time Since at Least 2009

The near-£90 million of debt listed in its LLP accounts coincides with a 39% surge in its US revenues. Meanwhile, both Freshfields and Ashurst have dipped into their cash reserves.
4 minute read

Texas Lawyer

Energy Sector Work Led to Higher-Than-Average Revenue Jump for Homegrown Texas Law Firms Last Year

A group of homegrown Texas firms did better than the industry average in a number of financial metrics in 2023, according to a Wells Fargo Legal Specialty Group year-end survey.
3 minute read

The American Lawyer

Cravath Enters Modern Era of Big Law Amid Regular Rate of Partner Exits

"The tweaking of their model may have stopped some people from leaving, but they don't seem to be leveraging the other aspect of breaking lockstep to expand and grow," noted one observer.
8 minute read

Daily Business Review

A Real Estate Slowdown Depressed the Growth of Florida Law Firm Revenue, But an M&A Pickup Might Push It Up

"It was a more average type performance for the Florida-based firms this past year. They came off a really strong 2022, where they outperformed quite dramatically," Owen Burman, a Wells Fargo senior consultant, said.
3 minute read

International Edition

Milbank Leaders Praise Non-Equity Partnership Tier Amid London Growth

In an interview with Law.com International, London co-managing partner Andrej Wolf said the firm's famously high NQ pay is "indirectly demanded" by clients.
4 minute read

The Legal Intelligencer

Aggressive Rate Hikes, Strong 4th Quarter Collections Drive 2023 Revenue Growth for Phila. Firms

The six Philadelphia-based firms surveyed by Wells Fargo together increased revenues by 4.7%, compared to a nationwide average of 6.0%.
4 minute read

Daily Report Online

Alston's Finance Group Sees Success, in Both Revenue and Diversity

Karen Gelernt and her successors in the Alston group stand out, as they are among the few female leaders of a structured finance practice in Big Law.
9 minute read

The American Lawyer

After Moderate Revenue Gains, Law Firms Plan for Growth in Both Deals and Litigation

"The mindset is toward growth as opposed to cutting, and that's a change over the last 18 months," Wells Fargo's Owen Burman said.
4 minute read

The American Lawyer

Milbank's Revenue Jumps 18% as Profits Soar 19% and Nonequity Tier Grows

The firm's 18.6% jump in PEP to $5.114 million occurred as Milbank saw a 51% expansion in its nonequity tier.
5 minute read

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