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


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.


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


Interesting Legal Sites You May Like




Search Now

Litigator with 5-10 years of general insurance defense experience

USA-FL-West Palm Beach

Boutique litigation firm is looking for an experienced litigator with 5-10 years of general insuranc...

Apply Now

Transactional Real Estate Attorney with 4-10 years of experience

USA-CA-San Diego

San Diego office is seeking a transactional real estate attorney with 4-10 years of experience.

Apply Now

Real Estate/Business Transaction Attorney with 8+ years of experience


Seattle office is seeking a real estate & business transaction attorney with 8+ years of experience....

Apply Now

Senior Attorney with municipal law and/or tax appeal experience


Boonton office of our client seeks senior attorney with municipal law and/or tax appeal experience. ...

Apply Now


Apprentice Attorney


This is not your typical listing for an associate attorney job.  If you are looking for a desk ...

Apply now

Managing Director, Litigation Finance Investments


Title                ...

Apply now

Eminent Domain Associate (3-5 years of experience) – Los Angeles or San Diego

USA-CA-Los Angeles

Meyers Nave is currently recruiting an intelligent, hard-working and self-motivated associ...

Apply now

Legal Resume / Cover Letter Writer

USA-UT-Salt Lake City

We are looking for a reliable freelance writer that can write high quality resumes and cover letters...

Apply now

Most Popular


To Top