The firm's gross revenue climbed 7.2 percent in 2014 while profits per partner dropped 13.4 percent. Firm chair R. Steven Kestner attributes the PPP falloff to a big contingency fee settlement that Baker & Hostetler reached with the trustee of Howrey. Revenue per lawyer, meanwhile, was down 2.2 percent, while head count was up 10 percent, in part because of a merger with an IP firm.
February 12, 2015 at 06:32 PM
1 minute read
The original version of this story was published on The American Lawyer
Baker & Hostetler saw its profits per partner plunge 13.4 percent in 2014, in part because of a big contingency fee settlement that it reached with the trustee of now-defunct Howrey.
PPP came in at $810,000 while gross revenue grew by 7.2 percent to $579 million. Revenue per lawyer, meanwhile, dipped 2.2 percent to $660,000 at the 878-lawyer firm.
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