Law Firms
Latham exceeds $3B mark to set a revenue record
Latham & Watkins is the first law firm to report annual revenues of more than $3 billion.
The law firm reported $3.064 billion in revenue in 2017, “setting a new benchmark for the industry and erecting a new challenge for other firms looking to take Latham’s place at the top,” the American Lawyer reports.
The revenue represented an 8.5 percent increase over the prior year. The firm also reported profits per partner of $3.25 million in 2017, a 6 percent rise.
Revenue was boosted by growth in head count. The firm had 2,436 lawyers last year, an increase of nearly 7 percent.
The American Lawyer points out that it has not yet reported financial numbers for Kirkland & Ellis, which held the No. 2 spot in last year’s Am Law 100 rankings.
