Report: BigLaw To See Profit Gains In 2015

Transactional work will buoy law firms to an anticipated five percent gain in profits in 2015, according to a Citi Private Bank and Hildebrandt Consulting LLC report released last week. Though demand for traditional litigation has lagged, the survey of 205 U.S.-headquartered firms found general projections up, and matching 2014 gains. The gap between the most and the least profitable firms will continue to grow, the report said, and there will be continued pressure on firms that traditionally have offered mostly litigation services, as “companies are more likely to settle earlier than before, and pursue alternative means of resolution to an expensive and high profile courtroom trial.”