Modest Firm Profits, Many Challenges Expected In '11

Law360, New York (January 14, 2011, 4:58 PM EST) -- Profits per equity partner are expected to increase modestly at lower single-digit rates in 2011, even as law firms wrestle with a sluggish market and mounting client pressures for enhanced value, according to a report released Friday.

In their annual Client Advisory for 2011, Hildebrandt Baker Robbins and the Citi Private Bank Law Firm Group said the legal business appeared to be stabilizing, though at a lower level than in the years prior to 2008.

Nonetheless, maintaining an acceptable level of profitability to satisfy partners and...
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