In the article, “Foley & Lardner Exceeds $1B in Revenue, Posts Higher RPL and PEP in 2021,” The American Lawyer notes that Foley “crossed the $1 billion revenue mark in 2021, and revenue per lawyer and profits per equity partner improved significantly, as the firm focused on providing broad-based service in its key industry sectors of health care and life sciences, energy, innovative technology, and manufacturing.”
“Our financial performance is reflective of what we are doing in the marketplace” and “a reflection of the quality of services we are providing clients,” said Jay Rothman, Foley chairman and CEO.
Demand was high in many practices, particularly in the business law department, and other practices such as telemedicine and supply chain were also big contributors in 2021.
Rothman also commented on the firm adding M&A and corporate lawyers in the San Francisco Bay Area and opening an office in Salt Lake City in 2021. Both lateral groups were aimed to build out the firm’s innovative technology and health care and life sciences sectors.
While “growth is expected in 2022,” the firm is also “devoting more resources on talent recruitment, development and training, along with leadership training,” said Rothman.