Benchmarks: Law Firms' Financials Show Post-Recession Growth
Improving economic conditions for corporate and other law firm clients along with increasing books for business among lawyers are paying off with post-recession financial growth. Holland & Knight has posted financial increases since 2009 and turned in a very profitable 2012 performance. Litigation and Dispute Resolution and Tampa Bay Regional Executive Partner Brad Kimbro said "We are fairly lean. We're lean by design and have done a good job controlling expenses through our firm wide management."
Mr. Kimbro also credits Holland & Knight's "excruciating selective" hiring practices to the firm's success. "We hire with the expectation that a lawyer will build up a book of business," he said. "We factor in transition costs in the budget because it takes a while to build a book of business back up. Our footprint provides a good platform for doing that."