July 15, 2024
The American Lawyer profiled Willkie on the success of an expansion plan that has made it the fastest-growing firm in the industry and propelled it to record growth and profits.
The in-depth article focused on Willkie’s remarkable growth over the last decade, highlighting the leadership and business acumen that have enabled the firm to double in size to approximately 1,200 lawyers and to reach record revenue and profits. Willkie earned $1.5 billion in revenue in 2023, up approximately 134% from 2014, while profits per equity partner rose 51% to about $3.86 million, a growth rate that surpasses the majority of its peer firms.
Willkie Co-Chairs Thomas Cerabino and Matthew Feldman discussed the strategy to develop a broad and balanced platform to cater to Willkie’s client base. In addition to complementing its corporate and transactional strengths with leading disputes capabilities, the firm pinpointed private equity and other practice areas as well as the Los Angeles and Chicago markets as business drivers.
The successful expansion has included opening seven new offices in the last decade – in Chicago, Dallas, Houston Los Angeles, Munich, Palo Alto and San Francisco – and growing Willkie’s London office into a market leader. During this period of transformative growth, Willkie has focused on maintaining the collaborative culture and commitment to client service that have long defined it. The deliberate, forward-looking growth plan continues to drive Willkie to greater heights.
“We are at a point now where we have put a lot of the groundwork behind us,” Tom Cerabino told The American Lawyer. “We are seeing the results of that this year. The profit growth is accelerating.”
Matthew Feldman commented on the importance of focusing on Willkie’s culture. “It is always a challenge when you grow quickly to maintain culture,” he said.
The publication noted that Willkie is the fastest-growing firm in terms of head count over the last five years and its revenue outgrew most other firms in that time. In addition, Willkie’s path to record profits, with numerous sizable new offices and an expanded international footprint, is unique among the industry’s top firms.
Read Willkie’s profile in The American Lawyer here.
