X
    Categories: Home

Revenue Down but Profits Rise at Milbank

Profits per equity partner managed to increase five percent at Milbank, Tweed, Hadley & McCoy in 2009 despite a slight drop in gross revenue.

AM Law Daily reports the firm’s revenue decreased to $601.5 million last year, while profits per equity partner increased to $2.23 million and revenue per lawyer was up five percent to $1.126 million. The number of partners in the firm fell from 145 to 140.

Chairman Mel Immergut told AM Law Daily the firm was happy with the results, especially after a tough first-half of the year that saw Milbank layoff 49 associates and 40 staff.

Milbank, Tweed, Hadley & McCloy is based in New York City and has offices in Washington DC, Los Angeles, London, Frankfurt, Munich, Tokyo, Hong Kong, Singapore and Beijing. The firm has approximately 550 lawyers.

joshua: