DLA Piper reports that gross revenue declined by almost 14% in 2009 to just over a billion dollars. Revenue per lawyer and profits per partner decreased only 5%, due to reductions in the firm’s head count. The headcount fell by 89 associates (11.6%), 24 equity partners (10.1%), and 16 non-equity partners (4.3%), for a total loss of 129 lawyers (9.3%). Firm chairman Frank Burch said that DLA “weathered the economic storm well…and our overall performance during this period was solid.” Burch said that the firm broadly cut expenses and improved its balance sheet by increasing its reliance on paid-in partner capital while attracting high profile laterals.
DLA Piper is one of the world’s largest international law firms. It has over 3,500 attorneys in 67 locations globally.
Posted by sara
on February 26, 2010. Filed under Home,Law Firm News,Legal News.
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