Weil Gotshal's 2009 results fail to meet expectations
Weil, Gotshal & Manges has posted flat gross revenue and a slight rise in profits per partner for the year 2009. The results are somewhat disappointing considering the firm's strong bankruptcy practice. Weil's recent bankruptcy work included the lucrative Lehman Brothers case for which Weil billed nearly $150 million over 16 months.
According to The American Lawyer, Weil's executive partner Barry Wolf said that other parts of the firm suffered from the economic downturn.
Gross revenue was steady at $1,2bn in 2009. With a head count rising from 1,190 to 1,212, revenue per lawyer dropped, but partner profits rose from $2,2m to $2,3m.
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