On March 8, 2024, The American Lawyer quoted Stu Ingis about Venable’s continued financial growth and success in 2023. The publication reported that last year the firm increased its gross revenue by around 12% to $812.1 million. The firm – which has reported consecutive revenue growth for over a decade – also increased its profitability and net income.
“Our firm has steady years, year after year, steady growth. And I think this was another of those years… all around all the numbers were up,” Ingis said. “That’s due in large part to the stability of the firm. We’ve got a lot of lawyers that have been here a long time with longtime clients that really rely on them for their important matters.”
Ingis also mentioned the firm’s “steady” growth trajectory, attributing this trend to Venable’s balanced investment across its core offerings. “We have a pretty balanced mix of government, intellectual property, business and litigation,” Ingis explained. “In a year where business deals might be down a little bit, litigation was up.”
He also described the firm’s growth in numerous legal markets across the U.S. “We’ve continued to grow, but at measured growth. We had a lot of really nice laterals join us throughout the country, growing our Chicago office at a nice pace with great lawyers,” Ingis said.
Click here to access the article.