This article originally appeared in the The American Lawyer on LAW.com.
Several law firms with roots in the Show Me State saw double-digit revenue growth in 2022, highlighting how firms in the heart of the U.S. often outperformed peers on the East and West coasts last year.
Missouri-based and founded firms leaned on what was left of the historic deal boom in 2021, as well as thriving middle-market transactions, varied litigation practices and continued lateral growth to achieve revenue gains, while profit growth was more mixed or negligible.
Leaders at Thompson Coburn said "slow and steady" investment on hiring and good variety in the transactional space helped them make revenue gains last year.
"I think we have a good diversification and we have a lot of private companies that aren't in the same space as the public and the public companies," Roman Wuller, chair of the Firm, said in an interview. "And so I think they're continuing to do deals that we see aren't as dependent upon the financial markets." Meanwhile, profits per partner at the firm fell about 6% last year, to about $652,000.
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