Despite ‘disappointing’ 2012 numbers, Dorsey & Whitney says 2013, 2014 are headed up
Posted Mar 4, 2013 6:59 PM CDT
By Martha Neil
Revenue last year at Dorsey & Whitney was the lowest in six years.
Yet the new managing partner of the Minneapolis-based law firm says he expects better things in 2013 and 2014, as the firm focuses on a financial turnaround, the Star Tribune reports.
“2012 was a disappointing year,” said Ken Cutler, who has been at the helm for two of those months. “But the last six years are the best six we’ve ever had.”
Revenue fell from a $367 million high in 2008 to $313.5 million last year, and average profit per partner slid from $670,000 in 2008 to $515,000 in 2012, the newspaper recounts, relying on financial information compiled by the American Lawyer.
Nonetheless, as the firm focuses on marketing, client development and recruiting attorneys laterally, there is a feeling of optimism about the future, says Cutler, who has practiced at Dorsey & Whitney for 39 years.
"My clients do not wait for business to come in the door. Neither can we," he tells the newspaper.
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