Holland & Hart, a Denver-based law firm, has reelected Chris Balch for a second term as chair. The re-election comes as the law firm is set to outdo its 2022 financial performance this year. The firm’s growth has been attributed to strong practices in commercial litigation, energy, and infrastructure.
Balch, who assumed the chairperson position in January 2020, will commence his new four-year term from January 1, 2024. During his re-election remarks, Balch emphasized a renewed focus for growth within the firm’s current markets and beyond.
Under Balch’s first term, Holland & Hart experienced consistent financial growth, boosting revenue by 45% and increasing profits per equity partner by 64% compared to four years ago. The firm’s revenue in 2022 stood at $320 million, with profits per equity partner around $720,000 according to Bloomberg Law.
Besides financial growth, the firm expanded its workforce from about 450 lawyers in 2019 to roughly 500 in 2023. Balch underscored the importance of attracting, retaining, and developing talent as a key to the firm’s success over the past four years and the future.
The firm competes for top talent amidst industry-wide salary increments by over 40 of the nation’s top law firms, which has seen associate pay scales rise from $225,000 for first years to $435,000 for senior associates. However, in his statement, Balch noted that while they don’t aim to pay Am Law 50 salaries, they offer a competitive package and a culture that embraces a life outside the office.
Holland & Hart has a total of 12 offices across the Western part of the United States and one in Washington, DC. The firm’s strategy for talent acquisition has entailed reevaluating salaries across their markets, implementing increments, and offering signing bonuses to attract talent while Big Law firms pursued remote workers during the pandemic.
As many firms reimpose return-to-office mandates and retreat to major markets, this type of change could present an opportunity for Holland & Hart. The firm has traditionally been successful in enticing high performers from Am Law 100 firms in other markets, who are often impacted by challenging work paces incompatible with personal life.