Lawyers

Law Firms Saw Improved 2014 Compared to Previous Year
Download PDF
1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)
Loading...

Citi-Private-Bank

Summary: A new report from Citi Private Bank shows that law firms across the country enjoyed a stronger 2014 compared to 2013. 

A new report from Citi Private Bank Law Firm Group has law firms across the country excited for what is to come, according to the Wall Street Journal.

  
What
Where


The Full Year 2014 Legal Industry Results was released by Citi Private Bank Law Firm Group on Thursday.

The majority of the results are positive. The report shows that net income has increased by six percent from 2013 and profits-per-partner increased by 5.7 percent from 2013.

A senior client advisor from the bank, John Wilmouth, said, “Firms across the board are doing better. Last year was mostly a good one.”

Get JD Journal in Your Mail

Subscribe to our FREE daily news alerts and get the latest updates on the most happening events in the legal, business, and celebrity world. You also get your daily dose of humor and entertainment!!




The best year came from the AmLaw 50, according to Wilmouth. Profits-per-equity-partner increased in 2014 for these firms by 7.2 percent from 2013. The numbers had increased by 5.6 percent from 2012-2013.

To read more law firm news stories, click here.



Wilmouth said that the rest of the industry seemed to have closed the gap at least a little bit. The next 50 largest firms on the list saw 3.2 percent growth in 2014 for profits-per-equity-partner from 2013. The second 100 firms experienced 4.1 growth in profits-per-equity-partner after a 1.4 percent drop in 2013.

Wilmouth also noted that firms that have strong transactional practices seemed to outpace the others.

“It was a very strong year for M&A,” he said.

The report shows that litigation did not have a strong year because companies are trying to settle their disagreements instead of going to trial.

To read more about Citi Private Bank, click here.

Wilmouth said the following about going into 2015:

“Inventories are up more than any period since 2007. We’re not all the way back to that peak, but it should be a nice first quarter at least.”

Will 2015 be as strong as Wilmouth thinks? Cast your vote using our poll.

Will law firms experience a strong 2015?

View Results

Loading ... Loading ...

Source: Wall Street Journal



 

RELEVANT JOBS

Civil Associate Attorney

USA-CA-Roseville

Law firm seeking a general civil litigation associate with 5+ years of civil litigation experience. ...

Apply now

Associate Attorney

USA-CA-San Diego

Brightside Law Group is growing! We are looking for an Associate Attorney to join our Special Educat...

Apply now

Associate Attorney

USA-CA-San Diego

Brightside Law Group is growing! We are looking for an Associate Attorney to join our Special Educat...

Apply now

Paralegal / Data Analyst

USA-DC-Washington

Kalijarvi Chuzi Newman & Fitch (KCNF), a boutique employment law firm, seeks a full-time Paralegal t...

Apply now

BCG FEATURED JOB

Locations:

Keyword:



Search Now

Junior to Mid-level Investment Management Associate Attorney

USA-NY-New York City

New York City office of a BCG Attorney Search Top Ranked Law Firm seeks junior to mid-level investme...

Apply Now

Mid-level Debt Finance Associate Attorney

USA-CA-San Francisco

San Francisco office of a BCG Attorney Search Top Ranked Law Firm seeks mid-level debt finance-focus...

Apply Now

Senior Business and Corporate Law Attorney

USA-CA-Murrieta

Murrieta office of our client seeks a senior business and corporate law attorney with 3+ years of bu...

Apply Now

Most Popular

SEARCH IN ARCHIVE

To Top