‘Healthier’ Boies Schiller Sees Shrinking Size Boost Profits

Boies Schiller Flexner is embracing its new market position as the litigation firm sorts out a future beyond its powerful leader.

The law firm is about half the size it was just five years ago. A net loss of 170 lawyers, including several rainmakers, prompted a corresponding plunge in gross revenue. But the firm’s profits per equity partner ticked back up last year as its ranks trimmed.

“The reduction in headcount has made us healthier,” Matthew L. Schwartz, a BSF co-managing partner, said in an interview.

The firm posted gross revenue of $220 million last year, down 4.3% from 2021, ...