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Faegre Drinker Biddle & Reath has achieved a significant financial milestone by surpassing the $1 billion mark in gross revenue for the first time since its formation. The firm, which was established in 2020 following a merger between Drinker Biddle & Reath and Faegre Baker Daniels, experienced a 7.1% increase in gross revenue, reaching $1.061 billion. This growth mirrors prevailing trends in the legal sector, with the firm’s net income also rising by 11% to $425.1 million. Meanwhile, the revenue per lawyer saw a slight increase of 1.7%, reaching $1.05 million, and the profits per partner grew by 12.7% to $1.27 million.
These financial achievements come as Faegre Drinker marks its fifth year post-merger, further solidifying its position within the legal industry. For additional details, explore the full report.
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