Fox Rothschild Ups Revenue 7.3 Percent, PPP 3.5 PercentMay 14, 2012 – In The News
Fox Rothschild had a 7.3 percent increase in revenue from about $239.5 million in 2010 to about $257 million in 2011.
Firmwide Managing Partner Mark Silow attributed the rise to its growing practice areas and the addition of laterals throughout the year, notably in Washington, DC and downtown Los Angeles.
"We had some practice areas that were very strong — principally bankruptcy and litigation — and then we had a real resurgence in corporate work," Silow said. He also said the firm also began to see a resurgence in its real estate practice for the first time in several years, and intellectual property and labor and employment remained steady.
In addition to the bump in revenue, the firm also saw its profits per equity partner (PPP) rise 3.5 percent, from $565,000 in 2010 to $585,000 in 2011, and its profit margin grow by 2 percentage points, from 32 in 2010 to 34 in 2011.
Looking ahead, Silow said the firm expects to see the continued upward trajectory of its transactional practices.
"Corporate's close to regaining its pre-recession form and real estate is again headed in the right direction," he said.
In addition, Silow said he expects to see strong productivity from the recently expanded IP litigation practice, employment litigation practice and entertainment law practice.
Silow said the firm's diversity in terms of both geography and practice areas served it well last year and he anticipates the same will be true for the coming year.
"Our philosophy is we would like all of our offices to be full-service offices and to grow as large as the markets in which they operate can tolerate, so we still have a number of offices that are still on their way to those goals," he said. "Looking at other markets, we would like to be in one of the major cities in Texas and we're interested in Chicago, Seattle and Boston."’