Greenberg Traurig has had its seventh consecutive year of financial growth, bringing in revenues of $1.73 billion in 2020 in spite of the coronavirus pandemic’s negative effects on the global economy.
In a statement on Tuesday, the Miami-based firm reported it had posted a 5.48% increase in revenue compared to 2019, when it brought in $1.64 billion.
“2020 was a year of unprecedented human challenge, but was also a year of unprecedented strength for Greenberg Traurig: financially, achieving both record revenues and record profits, with a profit-per-partner increase in excess of 6%; culturally, becoming closer than ever; and qualitatively, elevating our excellence and the consistency of our service worldwide,” said Richard A. Rosenbaum, executive chairman of Greenberg Traurig, in the statement.
For many Big Law firms 2020 stands to be a record-revenue year, despite the uncertainties presented by the coronavirus pandemic. According to a report by Wells Fargo Private Bank Legal Specialty Group, profits among the 50 largest firms are expected to be up an average of more than 11%.
Greenberg Traurig was the No. 14 largest firm in the U.S. by gross revenue in 2019, according to the most recent available AmLaw rankings. The firm has 2,200 attorneys total in 40 locations across the globe.
Greenberg Traurig also announced on Tuesday that it would elevate 30 new shareholders that span across 17 offices and 12 practice areas, and add 14 new attorneys to “of counsel” or “counsel” positions across nine different offices and six practice areas.