Bryan Cave Leighton Paisner saw revenues tick up by 2.1% in 2021, while profits per equity partner jumped by 29%, with leaders of the trans-Atlantic firm asserting that the improved performance validated its recent strategic plan. The profit surge occurred as the firm’s equity partner ranks dropped by nearly 15%.
Eighteen months ago, the firm made a clear statement to focus on three core practice areas—real estate as an asset class, midmarket corporate and finance transactions, and litigation and investigations—as part of its Project Advance. Revenues, which dropped by 1% in 2020, are now moving in a positive direction. Meanwhile, a significant number of partners in the private wealth practice, not cited in the plan, have found homes elsewhere.