Wake Up Call: Dechert Posts 50% Profit Gain on Record Revenues

In today’s column, Cozen O’Connor took a virtual step into Boston with a partner hire; U.K. law firms say their pay war with U.S. firms is “unsustainable; most “young” lawyers in a recent survey said they’re likely to change jobs in the next five years.

• Leading off, Dechert came back from an off-2020 to post revenue up 25.2% to a record $1.341 billion in 2021, while profits per equity partner soared 49.3% to $4.231 million, according to a report based on preliminary data. The Philadelphia-headquartered firm, which closed three small U.S. offices and shrank its equity partnership by 8% last ...