After a bump in 2014 on the heels of mortgage-backed securities settlements for the Federal Housing Finance Agency, New York-based Kasowitz, Benson, Torres & Friedman fell back to earth in 2015, seeing declines in gross revenue and partner profits.
Nonetheless, Kasowitz Benson reported financial results higher than those in 2013, before fees from a pair of massive FHFA settlements began to fill the 282-lawyer firm’s coffers. For 2015, Kasowitz Benson reported gross revenue of $234.5 million, a 10.8 percent drop from the $263 million the litigation-focused firm posted in 2014. Profits per equity partner in 2015 dropped another 6.1 percent, to $1.85 million, from $1.97 million in 2014.
