Saul Ewing navigated its way to a profitable year in 2009. The Legal Intelligencer reports equity per partner jumped by 14.5 percent at the firm last year, which can be attributed to increased revenue and a $7 million cut in overall expenses.
Partners at Saul Ewing saw their profits grow from $380,000 to $435,000 in ’09 and overall revenue increased to $120 million from $115 million in 2008.
The firm implemented its spending cuts in late 2008 after analyzing expenses. Managing partner David S. Antiz told the Legal Intelligencer that “nothing was immune.”
Among the cuts, the firm let go of its non-lawyer executive director position last year, there was more scrutiny of its sponsorship deals, the firm cut back in department retreats, and staffing levels were also reduced. Ultimately, about 28 staff positions and seven associates were cut last year, Antiz said.
Saul Ewing was founded in 1921 and has approximately 250 attorneys. The firm is headquartered in Philadelphia and has regional offices in Baltimore, Harrisburg, Newark, New York City, Princeton, Washington, and D.C., Chesterbrook, PA and Wilmington, DE.
Posted by joshua
on April 26, 2010. Filed under Home,Law Firm News,Legal News.
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