Blank Rome offices in Washington, D.C. July 25, 2018.Blank Rome saw profits per equity partner jump in 2020 even as the equity partner tier grew, and in spite of the economic challenges of the COVID-19 pandemic. Firm leadership pointed to innovative uses of technology and a reevaluation of its expenses as drivers.
The Philadelphia-based firm reported $483 million in gross revenue for 2020, a 2% increase from 2019. Divided across a lawyer head count that grew by four last year to 556, that translated to a 1.4% increase in revenue per lawyer, at $869,000.
Profits per equity partner were up 8.2% to reach $1.09 million, even as the equity partner tier grew by 5.6% from 2019 to 142 equity partners last year. That’s due to a 14% increase to the firm’s net income, which reached $155 million in 2020.
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March 18, 2021 at 04:41AM
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Blank Rome Reevaluated Costs Amid 2020 Challenges, Posting Big Profit Gains | The Legal Intelligencer - Law.com
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