On March 8, 2022, Stu Ingis was interviewed by The American Lawyer, where he discussed the firm’s continued growth and success in 2021. According to the article, Washington, DC-headquartered firms know what they’re doing and where to concentrate their efforts—and Venable is a prime example. That’s one of the key lessons that chair Stuart Ingis takes from seeing yet another consecutive year of growth across total revenue, profits per equity partner, and revenue per lawyer. Total revenue grew by just over 5% to $717 million from $681.8 million. RPL similarly grew by 5.47% to $965,031 from $915,000, while PEP grew modestly to $1.23 million from $1.2 million.
“We’re very steady, without the crazy peaks,” Ingis said. “Part of the reason for this is we’re a very well-diversified practice.” Venable is fairly equally divided at a quarter each of intellectual property, government affairs, litigation, and business.
Ingis said Venable’s diversity and consistency are baked into its culture—and that culture is also what draws talent.
“We had a great year in recruiting. We had people joining our firm because of our diversity and strength, but also because of our values and culture,” he said. “You look at the world, and where the world’s going, and what we’re seeing in the marketplace is that people are attracted more to places where they’re going to have careers and shared values, rather than working 3,000 hours.”
Ingis said Venable has taken the last couple of years to review costs, focus on client needs, and position the firm for even more long-term success.
“We’ve used the pandemic as an opportunity to shore up our balance sheets across the board and ensure that we have steady growth,” he said.
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