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Large Law Firm Revenues Climb Despite Dip In Demand

By Xiumei Dong

Even as the demand for legal services fell short of industry expectations, U.S. law firms entered 2025 on solid financial footing, with steady rate hikes fueling an 11.3% jump in first-quarter revenues, according to survey results released Tuesday by Wells Fargo Private Bank.

  • document and ai icons on laptop screen

    In-House

    In-House Attys Eye Contract Management First For AI Boosts

    Contract management is the most likely legal function to transform through artificial intelligence in the next three years, according to a report published Wednesday by SpotDraft.

  • Young professionals converse in an office

    California Pulse

    4 Skills Gen Z Associates Need To Close The Generation Gap

    As they enter the legal workforce in increasing numbers, Generation Z lawyers need to hone certain skills to thrive in multigenerational law firms, experts say, in many cases shifting how they communicate and build relationships in order to adapt to earlier generations' preferences.

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    Modern Lawyer

    Morgan Lewis' Dallas Office Head Moves To Haynes Boone

    Haynes Boone has landed the former office managing partner of Morgan Lewis & Bockius LLP's Dallas office for its mergers and acquisitions practice group, the firm said in a Tuesday announcement.

  • robot judge

    Legal Tech

    Trust In Legal AI Hinges On Human Oversight, Survey Says

    Many consumers say they think that artificial intelligence could make it more affordable to get legal services amid concerns about the cost of what many view as an "elitist" legal system, though few are ready to let technology take over completely, a survey from Robin AI reported on Tuesday.

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    California Pulse

    New Bowman And Brooke DEI Chairs Talk Diversity In 2025

    Trial firm Bowman and Brooke LLP has named two partners based in Philadelphia and Columbia, South Carolina, as the new heads of its diversity, equity and inclusion committee.

  • mortarboard cap on keyboard button reading admission

    California Pulse

    Law Schools Admit More Men, But More Women Are Applying

    Among law school applicants, women have far outpaced men over the past 10 years, yet the admission rate for men has remained higher, according to the nonprofit AccessLex Institute's Legal Education Data Deck released Tuesday.

  • wooden block letters reading 'sanctions'

    Daily Litigation

    Accuser Seeks $630K Sanction For Wright Defamation Suit

    A Freshfields LLP counsel who claimed she had been pressured into engaging sexually with her George Mason University law professor Joshua Wright — and who subsequently was hit with a $108 million defamation suit in Virginia state court — is seeking more than $630,000 in sanctions for his allegedly "costly yearslong baseless litigation" against her.

  • smiling man in suit

    In-House

    Ex-Deutsche Bank GC Is Coinbase's Next Compliance Chief

    A former general counsel at Deutsche Bank AG, who most recently led the anti-financial crime unit, is joining Coinbase Global Inc. as chief compliance officer, he said in a LinkedIn post Monday, a move that comes as policymakers work to set rules of the road for cryptocurrency.

  • Headshot of bald white man wearing a black suit and tie

    Daily Litigation

    McDermott's New Litigation Head Plans To Embrace AI

    McDermott Will & Emery LLP has appointed a new global leader for its litigation practice group, the firm announced Monday, with New York partner Josh Simon stepping into the role and succeeding veteran attorney Steven Scholes.

  • headshots of one woman and two men

    In-House

    Fordham Law School Launching In-House Counsel Institute

    Fordham University School of Law, in collaboration with DLA Piper, is launching an in-house counsel institute on Sept. 5, featuring weekly online classes and aimed at mid-career lawyers everywhere.

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