Transactional and Top 15 Firms Did Even Better.
The results of Citi Private Bank’s “Full Year 2014 Legal Industry Results,” based on a sampling of 179 U.S. firms (78 in the Am Law 100, 47 in the Am Law Second Hundred firms, and 54 in the niche/boutique firm category), show the following trends for 2014 versus 2013: revenue went up 4.5%, net income increased 6%, profits-per-equity partner rose 5.7%, and gross demand increased 1.9%. Actually, firms in the Am Law 50 saw profits-per-equity partner go up even more, by 7.2%. And there is even more: transactional firms (especially M&A based firms) did better; top 15 firms did better; and global firms beat national firms.