Winston & Strawn, a renowned law firm based in Chicago, has set new records in both revenue and profits last year. The firm’s revenue has increased by around 4% to approximately $1.2 billion, while the average profits per equity partner rose by about 2.5% to exceed $3.2 million. These promising figures are largely attributed to heightened activity within the firm’s litigation and finance practices.
In addition, the firm has seen a slight decrease in revenue per lawyer. This is potentially due to the firm’s decision to expand its workforce by 4.6%, now employing roughly 890 lawyers. This was announced in unison with the news that Steve D’Amore is slated to succeed long-time chair, Tom Fitzgerald, later this summer. As shared in a previous announcement, this leadership change falls in line with the company’s future growth plans.
According to chair-elect Steve D’Amore, the firm’s future strategy includes bolstering its presence in markets beyond the U.S. This approach particularly targets the London and Paris markets. D’Amore’s strategic-direction comes at a time when he will be taking the reins from the firm’s long-standing chair, Tom Fitzgerald, this summer.
The full story regarding Winston & Strawn’s impressive performance and future plans can be found at Law.com.