Haynes and Boone, LLP Managing Partner Taylor H. Wilson talked with Texas Lawyer about the firm’s strong 2020 financial performance and his outlook on the year ahead.
Here is an excerpt:
Sticking with its long-term plan and growing strategically despite the pandemic, Haynes and Boone improved revenue by 6.4% and net income by 22.5% in 2020, the result of strong demand across a broad range of practices.
“We were very pleased with what turned out to be a very strong year,” Managing Partner Taylor Wilson said.
Revenue hit $430.2 million at Haynes and Boone in 2020, up 6.4% when compared with $404.3 million in 2019. With a modest 2% growth in lawyers, revenue per lawyer (RPL) came in at $811,000 in 2020, up 4.4 % from $777,000 the year before.
Net income was $156.4 million, a 22.5% improvement from $127.6 million in 2019. Equity partner head count increased by 14.7%, but profits per equity partner (PEP) hit $1.077 million in 2020, up 6.8% when compared with $1.008 million the prior year.
Wilson said the firm’s revenue grew in many areas including capital markets, M&A, investment management, financial transactions, bankruptcy and energy litigation.
“We got to the end of the year — and certainly what a challenging year it was in the world around us — we look at our results and we feel it reflects the strength of our clients,” he said.
So far, 2021 is looking good, he said.
“We are bullish,” Wilson added.
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