January 21, 2009 3:22 PM
THE AM LAW 100: Wilmer Cutler Reports Growth in 2008
Posted by Ed Shanahan
Wilmer Cutler Pickering Hale and Dorr is the latest firm to buck the predicted trend of decreased revenue and profits for 2008, report our colleagues at Legal Times.
Gross revenue increased 1.2 percent from 2007, to $955 million. The firm, which elected ten new partners in 2008, reported a small hike in profits per partner (PPP), which came in at $1.08 million for the year, up 1.44 percent.
The new partnership class is down from the 23 promotions made in 2007. Firm co-managing partner William Perlstein told Legal Times the firm looked at the "strength of the people coming up" and wanted to add where it believed there was client demand. "We see these elections as a long-term investment. We have a one-tier partnership so we have to be very careful," Perlstein says.
Revenue per lawyer also increased, inching up 5.8 percent to $1,027,103.
According to the Legal Times report, Wilmer Cutler also says it will move forward with salary increases this year.
This report is part of The Am Law Daily's ongoing Web coverage of The Am Law 100s 2008 financials, bringing you our own reports and those from our sibling publications at Incisive Media. Results are preliminary. In keeping with past practices, we do not reveal which firms cooperate in providing financial information and which do not.
Final rankings and full results for The Am Law 100 will be published in The American Lawyer's May issue and on AmericanLawyer.com. The Am Law Second Hundred will be published in the June issue.
Make a comment