Ed. note: Stat of the Week is a new feature that pulls data points from ATL Research as well as noteworthy sources across the web.
Rumors of a Bingham McCutchen/Morgan Lewis merger were confirmed this week when news broke that the two firms had reached an agreement to combine. The firms have a lot in common in terms of financial metrics: for 2013, Bingham came in at $1.48 million for profits per partner and $960,000 for revenue per lawyer, while Morgan Lewis posted similar numbers, $1.57 million and $945,000, in those categories (according to Am Law).
Something the two firms don’t have in common? The direction they’ve been heading in….
Today, the American Lawyer released its Am Law 200 law firm rankings — a closely watched list of the law firms that are rich and prestigious, but not quite rich and prestigious enough to become a member of the elite and influential Am Law 100. If this were law school rankings, you could think of the “Second Hundred” as the institutions that came in just a step below the lauded T14.
As we noted when the Am Law 100 rankings came out in late April, the key takeaway was that the super rich were continuing to get richer. When it comes to the Am Law 200, flat performance is still very much the new up. There were some outstanding performances, though, and 20 firms out of the Second Hundred were designated as “super rich,” just like their Am Law 100 cousins.
While some firms came out on top, others were merely surviving. How did the Am Law 200 stack up?
* Two Biglaw firms and their even bigger revenue meltdowns: Patton Boggs and Bingham McCutcheon have posted the most dramatic revenue declines revealed thus far by Am Law. [Wall Street Journal (sub. req.)]
* Dewey know why this malpractice case is being brought against an ex-LeBoeuf Lamb partner? You know your case is screwed if one of the questions the judge asks you is “[W]hy are you here?” [Am Law Daily]
* Those who remain at Heenan Blaikie, the imploding Canadian Biglaw firm, are pretty “pissed off” they haven’t received word on their severance packages. So much for that “orderly wind down,” eh. [Law Times]
* Career alternatives for former Biglaw attorneys now allegedly include breaking and entering and assaulting state delegate’s wives. We’ll probably have more information on this juicy story later today. [NBC29 WVIR]
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CHICAGO, IL, September 29, 2014 – OmniVere today announced the creation of the company’s technology & data consulting arm and the addition of several industry-renown experts, including the former co-chairs of Berkeley Research Group’s (BRG’s) Technology Services practice, Liam Ferguson, Rich Finkelman and Courtney Fletcher.
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