The Boston - based firm's overall
lawyer head count held steady at 184, and revenue per lawyer was off 3.9 percent to $ 860,000.
Total
lawyer head count grew by almost 400 lawyers to 3,745, meaning that DLA's revenue per lawyer rose by a more modest 2.6 percent to $ 600,000.
But firms whose
lawyer head count, including partners, dropped in 2013, in most cases saw a rise in per - partner profits.»
Clifford Chance LLP LLP will cut 20 % of
its lawyer head count in its Moscow office in the current financial year, with...
Thanks to higher rates and a 5 percent increase in
lawyer head count, the firm's gross revenue rose a healthy 8 percent to $ 1.75 billion last year.
They say lower overhead costs translate into smaller bills for clients; modest
lawyer head counts make way for a more personal touch; and the availability of new technology levels the playing field when it comes to research, drafting documents, and communicating.
Not exact matches
But because of growth in
head count and a drop in demand, particularly in the corporate and finance sectors, profits per partner (PPP) fell by 4.3 percent, to an average of $ 1.26 million, and revenue per
lawyer (RPL) dropped 1.2 percent, to $ 818,000.
Head count at law firms has exceeded the growth in revenues per
lawyer — which can begin to take a bite out of profits.
Leverage — the ratio of all
lawyers (minus equity partners) to equity partners — likewise increased at all the firms where partner
head count fell.
What is surprising is that the firm is getting bigger, with its attorney
head count growing an eye - catching 27 percent to 310
lawyers in 2011.
Debevoise's revenue per
lawyer surged 7.2 percent to $ 1.05 million — a jump largely explained by a 3.9 percent drop in
head count that saw the firm lose 26
lawyers.
Because the firm's
head count grew more rapidly than its revenue did in 2011, Curtis saw a decline in revenue per
lawyer of nearly 8 percent to $ 530,000.
Although the firms will retain separate profit pools, when the most recent union takes effect in June, the combined Norton Rose Group will rank as one of the world's top ten law firms by
head count, boasting more than 2,500
lawyers in 38 offices worldwide and gross revenues of more than $ 1 billion.
The firm would not comment on how many staffers were affected by the most recent cuts, but Am Law 200 figures show that its U.S.
head count dropped 7 percent to 1,167
lawyers in 2010.
DLA Piper also has reduced its
lawyer and staff
head count in some of its international offices, including Hong Kong, London, and offices in the Middle East.
Designed to increase the firm's presence in the Asia - Pacific region, the addition of 700 antipodean
lawyers will mean that DLA will comprise more than 4,000
lawyers globally, making it the world's largest firm by
head count.
As for other key financial metrics, the firm's overall attorney
head count decreased by 1.8 percent, or five
lawyers, its revenue per
lawyer jumped 5.8 percent to $ 640,000, and its profits per partner rose 3.8 percent to $ 680,000.
It also lost 21
lawyers, or 4.7 percent of its overall attorney
head count.
This will raise the firm's
head count to over 2,500
lawyers spread over 38 offices.
Husch Blackwell saw its
head count fall from 551
lawyers in 2010 to 520
lawyers last year.