Blank Rome reports having a very solid 2009 as annual revenue was up 3 percent and profits per equity partner (PPP) jumped 13 percent. Gross revenue came in at $322 million, up from $312 million in 2008; and PPP rose from $588,000 to $667,000. Revenue per lawyer was also up 8 percent from $609,000 to $657,000.
Co-chairman Alan Hoffman told the Philadelphia Business Journal that the firm had strong years from its offices in Los Angeles, Hong Kong and Princeton. He also added that PPP could have actually been increased by 26 percent, but the firm elected to take $12.5 million in profits to pre-pay some 2010 expenses.
The number of full-time lawyers at Blank Rome actually declined from 512 to 490 and equity partners fell from 160 to 156. Blank Rome has eight offices in the United States and Hong Kong.