JD Journal » rise revenue and profits

Patton Boggs’ Profits and Revenue Show Slight Increase

marvins — Sat, 29 Jan 2011 00:29:55 +0000

Patton Boggs, a premiere international law firm with more than 600 lawyers, announced that the firm registered a slight uptick in its revenue for 2010. Patton Boggs confirmed that both revenue per lawyer (RPL) and profits per partner (PPP) have increased by 5%, from $840,000 to $884,000. The firm’s gross revenue also showed a slight upward movement, rising by 1.6% to $337.3 million.

Patton Boggs attributed the movement to the decrease in number of lawyers at the firm. In 2010, about 15 lawyers and 10 partners departed from the firm. As of today, Patton Boggs now has 527 associates and 116 partners.

Edward Newberry, Managing partner at Patton, added that the profits and revenue increase were also caused by the firm’s strong and steady performance in its largest practice area- litigation. Newberry explained that the firm’s litigation practice accounted for over 42% of Patton’s total revenue for 2010.

Patton Boggs, founded in 1962, now operates in the following nine locations in the US: Washington, DC, New York City, Newark, Anchorage, Dallas, Denver, Northern Virginia. The firm has additional offices in the United Arab Emirates, specifically in Doha, Qatar and Abu Dhabi. The firm focuses on litigation, public policy, business, intellectual property, international and trade law.

Bingham Sees Increased Profits, Revenue — Credits Downsizing

Erik Even — Fri, 23 Jan 2009 22:11:20 +0000

Bingham McCutchen saw both revenue and profits rise in 2008, the firm reports.

Gross revenue for the Boston-based firm totaled $767 million in 2008, a 3.2% increase over 2007; profits per partner went up 6.4% to $1.42 million.

The firm reports a 5.5% increase in revenue per lawyer, to $950,000; and a 6.7% increase in compensation for all partners, to $960,000.

Firm Chairman Jay Zimmerman points to the firm’s reduced head count, down 2.2% in 2008, as an important factor that contributed to this increase. The reduction allowed lawyers to maintain a high level of work, he said.

Bingham made several significant lateral hires in the second half of the year, beefing up its securities, antitrust and restructuring practices. The additions include securities lawyer Geoffrey Aranow, most recently the managing partner of Heller Ehrman’s Washington, DC, office; as well as restructuring partner Jeffrey Sabin from Schulte Roth & Zabel. The firm also brought on three antitrust partners from Clifford Chance in November.

Bingham McCutchen LLP is an international law firm with approximately 1,000 attorneys in 11 US offices and three international offices^.It represents clients in corporate litigation, cross-border restructurings and insolvencies, financing and securities, government affairs and a wide variety of corporate and technology transactions.

The law firm was named 41st best company to work for in 2008 by Fortune.

Cleary Gottlieb Clearly Did Well in 2008

Erik Even — Sat, 17 Jan 2009 20:45:23 +0000

New York-based international law firm Cleary Gottlieb Steen & Hamilton saw both revenue and profits per partner rise in 2008.

Gross revenue rose 8% to $965 million, and profits per partner increased about 12% to $2.4 million.

But revenue per lawyer was basically flat, down less than 1%.

Nearly half the firm’s lawyers are overseas, helping to cushion the blow from the dramatic slowdown in the United States

Cleary advised the SEC and Federal Reserve Bank of New York during the collapse of Lehman Brothers. It then advised Barclays in its acquisition of Lehman Brothers’ North American investment banking and capital markets businesses.

The firm employs over 900 lawyers globally.