Mayer Brown revenue slumps to 6-year low of $1.09B, average partner profit down to $1.15M
Posted Feb 25, 2013 5:01 PM CST
By Martha Neil
It's not exactly chump change. But after a 2011 surge, gross revenue dipped by 3.7 percent in 2012 to a six-year low of $1.09 billion at Mayer Brown.
And net income of $304 million was down by over 6 percent, resulting in a 2.5 percent reduction in average profit per partner, which was down to $1.15 million last year, the Am Law Daily reports.
Mayer Brown's chairman, Paul Theiss, says Mayer Brown's offices in the U.S. turned in "extremely strong" results that were an improvement on 2011. However, with almost half of the firm's attorneys now practicing in other countries, "some extremely challenging economic conditions in Europe and Asia" had an effect on the overall bottom line.
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