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Firmwide increases in demand drove gross revenue up 11%, but cost savings in compensation and real estate locked in a highly profitable year for the Rocky Mountain law firm.
Three years ago, when Holland & Hart chair Christopher Balch took the helm of the Denver-based law firm, he and the rest of the management committee outlined a strategic plan for growth: focus on high-performing practices in regional markets; grow the firm’s client base in energy, technology and intellectual property; and identify key partner hires and bolt-on lateral groups.
The plan is paying dividends. Holland & Hart boosted gross revenue by 11% and RPL by 9.9% in 2021, while net income and profits per equity partner rose 30.7%. The profitability came without cuts to the equity tier. (In 2020, a substantial number of equity partners decreased their role to senior partner, dropping the equity headcount 12.3%.) Meanwhile, the firm added four nonequity partners in 2021 and saw its total full-time equivalent head count increase by four attorneys.
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