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Wilmer Cutler Pickering Hale and Dorr reported that their profits per partner rose by 17%, from $1.13 million in 2009 to $1.33 million in 2010. WilmerHale’s gross revenue also expanded by 2.2% to $962 million and revenue per lawyer registered a 10.4% uptick to $1.08 million. The firm said that the growth was driven by the firm’s active performance in some of its practices, particularly government regulation and investigations, securities, and intellectual property.
WilmerHale explained that the firm’s restructuring plan has also helped in boosting its profits and revenue. In 2010, the firm downsized its workforce by 90 lawyers, resulting in more savings for the company. The number of equity partners was also slashed by 21 bringing it to 297.
William Perlstein, co-managing partner, stressed that 2010’s record is a mix of increased revenue, fewer partners, and lowered expenses. “The coming and going among the partnership is a constant. The firm has seen a number of lawyers move into jobs with the Obama administration, or lateral to other firms. In November, a five-lawyer real estate group, including one partner, left Wilmer for Venable.”
