Big Jump in Profits at Baker Botts

Baker Botts is reporting big increases in partner profits for 2007, joining other big firms posting big gains in revenues and profits.

The Houston-based law firm reported profits per equity partner of $1.3 million, an 18.6 percent increase over 2006, Legal Week reports. The results were issued as the firm hired two lawyers from White & Case for its Moscow office, Maxim Levinson and Sergei Stepanov.

Two law firms have reported revenues exceeding $2 billion for 2007 for the first time. They are Skadden, Arps, Slate, Meagher & Flom and Latham & Watkins.