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



 

Interesting Legal Sites You May Like


BCG FEATURED JOB

Locations:

Keyword:



Search Now

General Municipal Law Attorney with land use experience

USA-CA-Oakland

Oakland office of our client seeks general municipal law attorney with experience advising public ag...

Apply Now

Mid-level Restructuring Attorney with bankruptcy experience

USA-DC-Washington

Washington, D.C. office of our client seeks mid-level restructuring attorney with 4-6 years of exper...

Apply Now

Senior Land Use Attorney with experience

USA-CA-San Francisco

San Francisco office of our client seeks senior land use attorney with 7+ years of experience. The c...

Apply Now

Attorney with 3-5 years of civil litigation experience

USA-IN-Merrillville

Merrillville office of our client seeks attorney with preferably 3-5 years of civil litigation exper...

Apply Now

RELEVANT JOBS

Civil & Business Litigation / Transactional Attorney

USA-CA-Clovis

Law firm with primary emphasis in Business & Civil Litigation and transactional work, seeks confiden...

Apply now

LITIGATION ATTORNEY

USA-CA-Emeryville

Boutique East Bay litigation defense firm is seeking a junior to mid-level attorney. Candidates for ...

Apply now

Family Law Paralegal

USA-NJ-Parsippany

The right person for this job will grasp basic and complex divorce and family law issues, have stron...

Apply now

Products Liability & Mass Tort Litigation Associate

USA-GA-Atlanta

The candidate must have 1- 5 years of civil litigation experience, preferably with some background i...

Apply now

Most Popular

SEARCH IN ARCHIVE

To Top