The American Lawyer reported that Venable has once again kept its place among the small group of Am Law 100 firms that haven't endured a single year of profitability or per-lawyer revenue declines over the last decade.
The report pointed out that gross revenue at the firm grew 8.4 percent last year, reaching nearly $540.5 million. Revenue per lawyer increased more than 4 percent, to $850,000, and profits per partner ticked up more than 3 percent to $1.134 million. The firm added 25 lawyers overall and expanded its equity partnership by one partner.
Commenting on Venable's achievements in the past year and decade, Dan Moylan, Venable's co-managing partner, said, "The firm's financial success over the last decade boils down to its lawyers maintaining longstanding relationships that have been lucrative and fruitful." He pointed especially to the firm's work representing CMBS special servicers and its products liability and tax and wealth planning practices as growth drivers.