Third straight year of growth attributed to getting more high-value matters
DLA Piper has for the first time surpassed US$3bn in revenue.
The record-setting year for the global firm, which has a large presence in Australasia, is attributed to getting more high-value matters, global and Americas co-chair Roger Meltzer told The American Lawyer.
The publication shared preliminary results of the firm’s 2019 fiscal year, which showed that DLA Piper boosted its gross revenue by 9.7% on the year, to US$3.11bn from US$2.84bn.
Revenue per lawyer also increased 4.3%, to US$799,000 from US$766,000, while profits per equity partner got a boost of 4.1%, to US$1.95m from US$1.87m.
The firm grew its total headcount by 5.2% to 3,894 in 2019, the publication said. The same percentage-point growth was observed in the equity partnership, which swelled to 422.
Meltzer said that the move to more upmarket matters has allowed the firm to increase rates, which have been accepted by clients because of the quality of regional and sector expertise it offers. The firm also provides “a wide range of things” he said is important to multinationals and mid-market organisations alike.
In terms of practices, corporate in the US performed well in 2019, buoyed by work in upper-mid-market M&A. Tax, IP, and corporate performed well internationally.
DLA Piper said it grew its litigation capability in the last fiscal year. It is currently investing heavily in technology.
