Firm’s partners see profits jump 15%

The spike sees partners earn nearly US$1m in 2016

Firm’s partners see profits jump 15%
Squire Patton Boggs had a banner year in 2016, with profits per partner jumping 15% to nearly $1m off the back of a 6% increase in the firm’s top line.

Last year, the firm earned US$983m, up US$54m. Revenue per lawyer rose 3% to $670,000, while profits per partner increased to US$975m.

“We have spent the past several years making investments aimed at building a platform that helps our lawyers deliver results for clients, and also attracts new clients and talent to the firm,” said global managing partner Steve Mahon. “We are seeing those investments pay off.”

He said in a statement that contributing to the growth were the firm’s cross-border compliance, regulatory, transactional, and litigation practices.

Squire Patton Boggs, formed three years ago by the merger of Squire Sanders and Patton Boggs, saw lawyer headcount grow to 1,466 worldwide last year, an addition of 40 lawyers. It had 172 equity partners, up by 26. Non-equity partners dwindled to 308, down by 34.

In Australia, the firm has offices in Darwin, Perth, and Sydney. It has 23 partners in the country.

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