In a year when many in the Am Law 200 saw diminished revenue and profitability, Steptoe & Johnson LLP increased profits per equity partner by nearly 7% in spite of a $20 million prepayment of 2023 expenses.
Leaders said the firm’s fortuitous financial position comes as a result of plentiful work in litigation, arbitration and the government relations space, according to firm leaders. Efforts to “professionalize business services departments” at the firm, via investments in C-suite functions and billing staff, have also paid off, leaders said.
