Top firms in New York outperformed their Am Law 100 counterparts across the country last year, with several reporting double-digit growth in profits or revenue. But achieving that level of performance required making some significant changes, from big rate increases to collecting client payments faster and cutting back equity partner ranks.
To take stock of the firms that dominate the city’s finance, deal-making and litigation scenes, ALM assessed the 2016 financial performance of the same sample group of 17 homegrown New York firms it has surveyed in past years. Last year, six of them had more than 12 percent growth in profits per partner, while a majority of the others saw moderate or strong growth in revenue, profits or both, according to reporting for The American Lawyer’s upcoming Am Law 100 rankings.
