Gross revenue at Orrick, Herrington & Sutcliffe grew 1.8 percent last year, to $929 million, but revenue per lawyer and profits per partner both declined, an outcome that chairman and CEO Mitchell Zuklie attributed partly to a lateral hiring spree by the firm.
With 42 laterals—more than twice as many as in 2015—Orrick’s head count rose 2.7 percent, to 941. Revenue per lawyer dropped 1 percent, to $985,000. And partner profits fell 6.1 percent, to $1.68 million, despite an 8.6 percent decrease in the size of the firm’s equity partnership.
