Hogan Lovells posts 26% profit growth after Oracle and IBM Work

Hogan Lovells increased earnings per partner by 26% last year, thanks to the direction of merger and acquisition transactions for companies such as Oracle Corp.

The company’s revenue grew 13% as Hogan Lovells saw workload growth during the pandemic in areas such as litigation, government regulation and intellectual property.

“The key to our success is balance, balance, balance,” Hogan Lovells general manager Miguel Zaldivar said in an interview.

Zaldivar becomes the latest leader in the top 100 companies to describe stellar 2021 results. Cadwalader, Wickersham & Taft saw revenues jump 35% to $609 million last year, and earnings per financial partner increased by 72% to reach over $4 million. Greenberg Traurig grew revenue 17% year over year, topping $2 billion for the first time.

The results are not surprising given that firms have reduced overhead costs such as travel during the pandemic, and home-based attorneys have often worked longer hours than usual, said firm CEO Susan Hackett. Legal Executive Leadership consultancy.

“How could they not make more money?” she said in a written statement. “I would be worried if they hadn’t.”

Hogan increased earnings per partner to nearly $2.5 million while increasing revenue to $2.6 billion from $2.3 billion, the company reported. Revenue per attorney increased 16.5% to more than $1 million.

The company benefited from the management of Oracle acquisition of Cerner Corp.a $28.3 billion deal that aims to provide healthcare customer base to boost Oracle’s cloud computing business.

Hogan also helped IBM Corp.the reorganization of its managed infrastructure services activity, upstream of its spin off in Kyndryl. He helped Papa John’s International Inc. in its dismissal of a securities class action lawsuit in the Southern District of New York.

Profits increased not only due to overall workload growth, but also due to more efficient bill collection and revamped lease agreements for many of its offices, Zaldivar said.

The number of partners with and without capital of Hogan remained stable in 2021 compared to the previous year. The number of associates increased from 412 to 391, while the number of non-shareholder associates increased from 381 to 384.

The company in its report a year ago said the number of shareholder partners fell to 412 from 536 in 2019, while the number of non-shareholder partners rose to 381 from 265.