Big Law Banker ‘Pleasantly Surprised’ By Law Firm Financials (Podcast)

  • Big Law Banker ‘Pleasantly Surprised’ By Law Firm Financials (Podcast)
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    Joe Mendola of Wells Fargo Private Bank’s Legal Specialty Group

    Joe Mendola of Wells Fargo Private Bank’s Legal Specialty Group

    There’s some good news if you’re an equity partner at a large law firm. Based on the findings of a survey of firms, released by Wells Fargo Private Bank’s Legal Specialty Group, equity partners should see “healthy levels of profit” this year. However, Joe Mendola, a senior director of sales with the group, also warned that this continues to be “a challenging time” for many firms in the second hundred of the Am Law 200, and we should expect consolidation to continue in the coming years.

    Mendola visited the Big Law Business office on Wednesday to record a podcast with us about the findings of his group’s Mid-Year Check-In, a survey of financial measures of approximately 135 law firms. About 60 Am Law 100 firms participated in the survey, including a “high percentage” of the Am Law 50.

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