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13 Feb

Law Firm Revenue, Profits Up in 2017, Wells Fargo Report Finds

by: Astor Professional Search

Law firm financial performance finished 2017 on a positive note, with a larger segment of the legal market contributing to upward trends in revenue and profits than in recent years, according to a new report by Wells Fargo Private Bank’s Legal Specialty Group.

In board room gathered multi racial business people focus

The report, drawn from a survey of 160 firms, reported that law firm revenue and profits were up between 3 percent and 4 percent for the legal market overall. Firms in the Am Law 50 reported revenue growth of 6.8 percent in 2017, while the Am Law 100 as a whole reported a 5.26 percent increase in revenue. Firms in the Am Law Second Hundred saw a smaller revenue uptick of 2.33 percent in 2017, the report revealed (as quoted in The American Lawyer).

“The enthusiasm is derived from a slight-to-moderate improvement in transactional activity,” the Wells Fargo report said. “Most believe the corporate tax changes and a general improvement in our economy will buoy corporate, M&A, capital markets, and other transactional work.”

See highlights from the full article on The American Lawyer.

Contact Bill Sugarman for more information.

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William Sugarman

William Sugarman is the president and founder of Astor Professional Search. He engages in the successful placement of attorneys with local, regional, and international law firms and corporations. Bill’s extensive legal and business development experience give Astor an edge over other legal recruiters nationwide. At the cornerstone of Bill’s strategic philosophy is providing the highest level of personalized attention to his clients and attorney candidates. This is also a key factor that separates Astor from other legal search firms, and it consistently delivers legal placements year after year.

Years of Experience: More than 20 years

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