While both gross revenue and revenue per lawyer ticked up slightly at Milbank, Tweed, Hadley & McCloy in 2012, the firm’s profits declined amid an expansion of the equity partnership ranks, according to The American Lawyer‘s reporting.
Milbanks gross revenue rose 2 percent last year, to $665 million, while revenue per lawyer climbed 4.5 percent, to $1.165 million. On the flip side, profits per equity partner dipped 4.9 percent, to $2.445 million. The results came as the firms overall attorney head count declined 2.4 percent, to 571, and total partner head count increased 0.7 percent, or a single partner, to 147.
