Wednesday, November 27, 2024

Gordon Rees Achieves 15% Revenue Increase while Expanding its National Presence

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Gordon Rees Scully Mansukhani, a law firm that now operates in all 50 US states, saw a 15% increase in gross revenue in 2023 after adding nearly 170 attorneys and opening four new office locations.

With a growth rate that has nearly tripled its size in the last decade, the firm ended the year with 1,331 lawyers spread across 78 office locations in the US. This contributed to a gross revenue of $612.8 million, up from $531.1 million in 2022, as reported by Bloomberg Law. However, the firm did not disclose its net income or profits per partner.

Established in 1974 as an insurance defense law firm in San Francisco, Gordon Rees exemplifies the trend towards expansion in the legal industry in the 21st century. By 2019, the firm became the first legal entity to have offices in every state in the US, reflecting the need to cater to national businesses and the competitive nature of obtaining clients.

Managing partner Dion Cominos, a litigator based in San Francisco since 2006, highlighted the strategic significance of this expansion, stating that it has differentiated the firm in the market and made it more accessible to clients nationwide.

Cominos added that the firm’s focus on litigation, labor, employment, and insurance has attracted major clients like Travelers Insurance, Aetna, and Ford Motor Co., according to Bloomberg Law litigation analytics.

Gordon Rees’ emphasis on litigation has shielded it from the slowdowns in capital markets and mergers and acquisitions that have impacted other sectors of the legal industry. Notably, other firms like Fenwick & West experienced layoffs earlier in the year.

The firm’s continuous hiring drive, including the addition of a 19-lawyer litigation team in New York and New Jersey, has contributed to its sustained growth momentum.

Pressure to Grow

The growth trajectory of Gordon Rees comes at a time when many firms are under pressure to expand, driven by competition for talent and the increasingly complex regulatory environment faced by businesses globally.

In response to these challenges, law firms are making significant investments in key markets and industries, or expanding geographically. However, the success of geographically dispersed strategies hinges on seamless integration across offices.

External factors are also prompting consolidation among law firms, with notable mergers like Arent Fox and Schiff Hardin, and the planned merger of Allen & Overy and Shearman & Sterling on the horizon.

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