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Wake Up Call: Goodwin’s 1,104 Deals in 2021 Is Industry Record

March 24, 2022, 1:03 PM

In today’s column, Holland & Knight’s revenues jumped to $1.4 billion after its recent merger; Winston & Strawn rebounded from covid litigation delays to $1.153 billion revenues in 2021; Wilson Sonsini matched the Cravath scale for associate pay.

  • Leading off, Goodwin Procter had a record 1,104 deals in 2021, about 10% more than its closet rival, Kirkland & Ellis. Less than a decade ago, Goodwin managed just 85 deals in a year. (American Lawyer)
  • Miami-based Holland & Knight’s August merger with energy-focused Texan-firm Thompson & Knight, adding over 300 lawyers, helped push its 2021 revenues to $1.4 billion in 2021, up from around $1 billion in 2020. Holland & Knight’s profits per equity partner climbed to $2 million from $1.7 million in 2020, despite combining with a less profitable firm. (Daily Business Review)
  • Wilson Sonsini matched the Cravath scale for associate pay. (Above The Law)

Lawyers, Law Firms

  • After covid court delays hit its litigation practice in 2020, Winston & Strawn bounced back to post a 17.5% jump in revenues to $1.153 billion in 2021. Its average profits per equity partner surged 24.8% to $3.021 million. (American Lawyer)
  • Arnold & Porter Kaye Scholer’s revenues gained 7.4% to $1.03 billion in 2021, the first time the Washington-based firm topped $1 billion. The firm’s average PEP jumped 13.6% to $1.53 billion. (American Lawyer)
  • Baker Botts said sticking to its strategy helped it post $723 million in revenues in 2021, up 1.8% from the previous year despite a headcount that shrank 6.3% to 673. With equity partnership falling 18.6% to 134, the firm’s average PEP expanded 10%. (Texas Lawyer)
  • American lawyer Samuel Bickett, former Bank of America Merrill Lynch compliance director, tweeted that he is out of Chinese prison after his conviction for assaulting a Hong Kong plain clothes police officer during 2019 protests. He said he has been banned from entering the city. (Twitter)

Laterals, Moves, In-house

  • Willkie Farr & Gallagher announced that Laura Geist, a commercial litigator focused on life insurance and financial services class actions, joined the firm’s San Francisco office as a partner. She was previously a partner at Dentons; Holland & Knight got back litigation partner Joseph Franco in Portland, Oregon. He returns from Richardson Wright, which he joined in March 2020; Loeb & Loeb brought in business litigator Michael Donner as a partner in San Francisco. He previously was a partner and business litigation practice group chair at Hanson Bridgett; Greenberg Traurig got gaming and hospitality industry in-house veteran Kathleen L. “Katie” Fellows, recently vice president and general counsel for Virgin Hotels Las Vegas, as of counsel in Las Vegas in its corporate and real estate practices. (GTLaw.com)
  • Ballard Spahr grabbed a four-lawyer team specializing in estate, trust, and private wealth planning and management from Troutman Pepper in Philadelphia. The team is led by partners Justin Esposito and Justin Brown, and includes senior counsel Mark Blaskey, associate Brittany Yodis, and two paralegals; Philadelphia-based Saul Ewing Arnstein & Lehr added human resources operations specialist Julicia James as manager of diversity, equity and inclusion. She was recently diversity, equity, and inclusion specialist at Ballard Spahr; Washington-based tax law boutique Ivins, Phillips & Barker hired away Miller & Chevalier attorney Thomas Cryan as a partner in the firm’s benefits & compensation practice; Haynes and Boone said it promoted 11 lawyers to counsel across nine offices. (HaynesBoone.com)
  • Milan-based luxury company Prada Group named former Hershey Company International chief counsel Cristina de Dona as general counsel, among several executive appointments. (Vogue Business) Chantilly, Va.-based Arcfield, which provides systems engineering services to U.S. intelligence and the Defense Department, named in-house counsel Jim Gallagher as chief legal officer. A former senior counsel at Pillsbury Winthrop, Gallagher has served as general counsel at government services company Perspecta Inc; Switzerland-based privacy startup Nym Technologies hired former Orrick patent attorney Ahmed Ghappour, a Boston University Law School associate professor, as its general counsel. (BeinCrypto)

To contact the correspondent on this story: Rick Mitchell in Paris at rMitchell@correspondent.bloomberglaw.com

To contact the editors responsible for this story: Chris Opfer in New York at copfer@bloomberglaw.com; Darren Bowman at dbowman@bloomberglaw.com