February 27, 2020 / 12:43 PM / a month ago

Milbank says equity partner profits hit $3.87 mln in 2019 but growth slowed

Milbank on Wednesday said its profits per equity partner grew 1.3% from 2018 to more than $3.87 million in 2019, a slower growth rate than the previous year, when the firm expanded two teams in London.

New York-founded Milbank said its revenue grew 3.4% to nearly $1.07 billion in 2019, a record revenue for the law firm that its chair Scott Edelman tied to increased client demand, in an interview with Reuters on Wednesday. Its revenue per lawyer decreased by 1.5% to just under $1.4 million.

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