IN-DEPTH RESEARCH REPORT
on Willkie Farr & Gallagher LLP
- - Financial Information
- - Compensation
- - Billing Rates
- - Lateral Partner Moves
- - Pro bono
- - Key Contacts
Willkie Farr & Gallagher
- Designation: New York
- Head Count: 540
- Gross Revenues: $533,000,000
- Revenue Per Lawyer: $985,000
- Profits Per Partner: $2,070,000
- Year Over Year Change: 1
For a firm that has gone by 16 names since its founding, and ultimately named itself for a presidential candidate who lost, Willkie Farr & Gallagher has done just fine. The firm, which was known as Hornblower & Byrne when it was started in New York in 1888, regularly scores in the top 15 on the ALM profitability index and in the top 20 in profits per partner. Topping the letterhead with 1940 Oval Office runnerup (and 1941 corporate lawyer) Wendell Willkie wasnt such a bad move after all.
But there have been rough spots. The firm has a largely transactional practice (heavy in M&A, private equity, and bankruptcy and restructuring), a fact that helps explains the drubbing Willkie took during the recession. It ranked sixtyninth of 84 firms in The American Lawyers Recession Performance Index, with gross revenue suffering a compound annual growth rate of minus 5 percent between 2007 and 2009, and revenue per lawyer a CAGR of minus 6 percent. Oddly, perhaps, Willkies lawyer head count actually increased throughout the economic downturn, another factor that reduced revenue per lawyer.
While net income began to swing upward in 2010, the joy wasnt exactly contagious: Willkie placed 110th out of 126 firms on The American Lawyers 2011 Midlevel Associates Survey. It wasnt too popular with prospective lawyers either, ranking eightyeighth of 108 firms on the 2011 Summer Associates Survey. Fortunately, Willkies clients evidently rate the firm higher: Its roster includes Alist names like Bloomberg L.P., The Allstate Corporation, and Morgan Stanley.
|Survey||Rank||Year Over Year Change||Description|
|Am Law 100||59||1||Gross revenue|
|Am Law 200||59||1||Gross revenue|
|NLJ 250||66||7||Lawyer head count|
|The A-List||40||33||Overall excellence|
|Pro Bono Scorecard||62||11||Pro-bono commitment|
|Diversity Scorecard||69||25||Minority head count|
|Midlevel Associates Survey||110||N/A||Job satisfaction|
|Summer Associates Survey||88||58||Summer programs|
In the News
Diane Jeantet : The Am Law Daily : May 17, 2013
Andrews Kurth heads to London; Bingham McCutchen grabs seven lawyers in Tokyo; and a Munger, Tolles & Olson partner plans a move to the Southern Poverty Law Center. The Churn is constant. Please send all announcements to firstname.lastname@example.org.
Tom Huddleston Jr. : The Am Law Daily : May 15, 2013
A month after shaking up the telecommunications industry by making a $25.5 billion bid to acquire Sprint Nextel, DISH Network has announced a $2.5 billion debt offering meant to help finance part of the proposed deal. Sullivan & Cromwell has been brought in to advise DISH on the debt offering while White & Case is working on the takeover.
Brian Baxter : The Am Law Daily : May 14, 2013
Both The Associated Press and Bloomberg L.P. have retained outside counsel this week after finding themselves caught up in two very different controversies, with the AP fighting back against the Justice Department's seizure of reporters' and editors' phone records amid a government leaks probe, and Bloomberg under fire for allegedly using its ubiquitous terminals to tap into the personal information of company clients.
Tom Huddleston Jr. : The Am Law Daily : May 13, 2013
Taken together, Katten Muchin Rosenman's recent move into Houston and a spate of lateral hires shows that a boom in energy-related work continues to attract new Am Law firms to Space City while motivating those already doing business there to bulk up.
Tom Huddleston Jr. : The Am Law Daily : May 13, 2013
A year after waging a proxy battle with an activist investor over exploring a possible sale, BMC Software has agreed to be bought by an investment consortium led by buyout firms Bain Capital and Golden Gate Capital in a cash deal worth $6.9 billion.
Brian Baxter : The Am Law Daily : May 10, 2013
Proskauer Rose's big week in the real estate space continued on Friday as the firm grabbed a role advising investment firm Ares Management on its bid to acquire AREA Property Partners's $6 billion in assets. Proskauer is also handling the $1 billion sale of two Manhattan skyscrapers, as well as a $220 million stadium naming rights agreement involving the National Football League's San Francisco 49ers.
Tom Huddleston Jr. : The Am Law Daily : May 10, 2013
Jebejian led the Kirkland & Ellis team advising a private equity consortium led by Bain Capital and Golden Gate Capital on its $6.9 billion acquisition of business software company BMC Software.
Christine Simmons : New York Law Journal : May 9, 2013
Growth was steady last year for most of the 20 largest law firms in New York, with slight to moderate gains in gross revenue and profits per partner.
Tania Karas : New York Law Journal : May 9, 2013
Business software vendor BMC Software has agreed to sell itself to a consortium of private investors led by buyout firms Bain Capital and Golden Gate Capital for $6.9 billion in cash, the companies announced on May 6.
Tom Huddleston Jr. : The Am Law Daily : May 6, 2013
A year after waging a proxy battle with an activist investor over exploring a possible sale, BMC Software has agreed to be bought by an investment consortium led by buyout firms Bain Capital and Golden Gate Capital in a cash deal worth $6.9 billion. Kirkland & Ellis, Sidley Austin, and Willkie are advising the investors while Wachtell is representing BMC.
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