In an unprecedented show of financial success for the Big Law firm, Quinn Emanuel Urquhart & Sullivan reported exceeding $2 billion in revenue last year – the first time in its history. This accomplishment represents a 28% growth from its 2022 revenue, reaching a staggering $2.1 billion.
The firm attributes this success to a busy year of client settlements and case winnings in 2023, which notably increased firm-wide fee income by 26%. Notably, the firm expanded its full-time legal workforce by 12%, culminating in a headcount of 1,050 lawyers.
Beyond its financial performance, Quinn Emanuel had a notable year operationally as well. This included significant legal mandates such as conducting an internal investigation into an accident for Cruise LLC, representing the University of Tennessee in a lawsuit against the NCAA, and filing a complaint against Iran on behalf of American victims of a Hamas attack.
Also noteworthy is the firm’s ambition for continued growth, with plans to increase its headcount by an additional 10% through 2024. This includes broadening practice areas like bankruptcy and restructuring, as well as enlarging its antitrust and white-collar group. Predicting future growth in the technology space and biologics, the firm aims to build its expertise in these niche areas as well.
Quinn Emanuel also saw major office expansion in 2023, opening new locations in Beijing, Dubai, Abu Dhabi, and Singapore. Additionally, a substantial lease was secured for a new office in New York’s Midtown South Textile Building. Recently, plans were announced to open a new office in Wilmington, Delaware.
Despite these significant achievements, firm leadership is optimistic about the future. Quinn Emanuel’s co-managing partner, Michael Carlinsky, announced expectations that 2024 can be “as good if not better” suggesting that the elevated momentum shows no signs of slowing down.