In a lengthy interview with American Lawyer, Chief Executive Officer Noah Heller explained how a transactional boom led to revenue and profit jumps for Katten in 2021.

Overall, the firm's revenue improved by 10.4 percent and profits increased by 1.5 percent. During the same period, profits per equity partner exceeded $2 million.

Noah credited high demand in transactional work.

"It was a lot of deal volume, and the demand for our lawyers' time was up significantly," Noah told American Lawyer. "Between our corporate practice, our finance practices, our financial group…our real estate department and all of our regulatory (practices), lawyers were busier than ever."

He added that Financial Markets and Funds groups also were in high demand in 2021, as was Real Estate. Private Credit closed more than 750 transactions in 2021, leading to a 50 percent revenue jump.

"We had a practice that was best in class and the class we represent just got a whole lot bigger and more active," Noah said.

American Lawyer reported on the firm's increase in Corporate practice activity and steady stream of work for Litigation. The publication also discussed expenses, which Noah said increased on the people investment front.

"Associate compensation continues to increase, and alongside that, we've got some terrific counsel and an amazing group of income partners," he said. "Great talent deserves to be compensated at market levels."

Noah said he expects another increase in expenses related to gatherings, travel and conferences as more people return to the office following the launch of Katten Flex, the firm's new flexible return-to-office plan.

"Transactions Work Boosts Katten Muchin Revenue, Bumps PEP Past $2M Mark," American Lawyer, April 12, 2022