The Score

February 4, 2010 6:00 AM

THE AM LAW 100: No Dips for Bingham

Posted by Michael D. Goldhaber

Bingham McCutchen announced a 12 percent rise in revenue to $860 million in 2009, on the back of a banner year for its signature restructuring practice, as well as the integration of McKee Nelson, the boutique that was best-known for the very unfashionable practice of securitization.

"Last year consolidated our leading position in the restructuring market," says Bingham chair Jay Zimmerman. "[But] as the economy begins to recover, you're going to need some level of activity in securitization. We're in the process of transferring that brand from McKee to Bingham."

Profits per equity partner edged up 2 percent to nearly $1.45 million. Having also avoided declines on both scores in 2008, Zimmerman has managed at least 12 straight years of rising revenues and profits.

Bingham's restructuring partners have advised bondholders on the nationalization of the three major Icelandic banks, while litigators are defending JP Morgan Chase and Credit Suisse Securities in a range of structured finance disputes.

With a 5 percent increase in inventory (work in progress plus uncollected bills), Zimmerman is optimistic about next year--and beyond.

"When you look at our practice mix with the addition of McKee," says Zimmerman, "I think we've got the basic pieces in place to sustain and build on our success."

This report is part of The Am Law Daily's ongoing Web coverage of The Am Law 100’s 2009 financials. Results are preliminary. Final rankings and full results for The Am Law 100 will be published in The American Lawyer's May 2010 issue and on The Am Law Second Hundred will be published in the June issue.

The final published results of last year's Am Law 100 rankings are available here.

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