Cozen O’Connor, on its ten-year trajectory of careful and consistent progress, posted a 5.5% increase in gross revenue for the year 2023. This growth brought their top line up by approximately $34 million, lifting their total to just north of $653 million. The increase was said to be owed to a consciously diversified set of practices and income streams.
The firm also expanded its nonequity tier in impressive strides, with an 8.7% surge in nonequity partner numbers, and an overall rise of 4.5% in partnership tier. Despite this substantial growth, the firm managed to deliver a modest yet notable 2% increase in profits per equity partner (PEP), yielding an average PEP of $1.139 million.
In addition, Cozen O’Connor’s growing presence in Canada contributed approximately 2.5% of their total earnings. The firm has been steadily expanding its footprint in Canada, undoubtedly playing a part in their overall growth.
For detailed financials and more in-depth analysis, you’re encouraged to view the detailed report directly on The Legal Intelligencer.