In an American Lawyer interview, CEO Noah Heller recapped Katten's 2022 financial year, noting the firm increased revenue and headcount "consistent with our steady growth profile."
Katten's revenue improved by 4.1 percent, with profits per equity partner increasing by 1.3 percent. Noah attributed the increases to strong demand across most practices in the US, UK and China.
In particular, "the deals side for us held up pretty well," with Corporate busier than they were the year before as the firm focused on middle-market private equity. Noah also noted the addition of attorneys in key practice areas, including Private Wealth, Financial Markets and Funds, Corporate, Intellectual Property, Litigation and Structured Finance.
"We continue to be really proud of our white-collar litigators, for example. At least for us, we are still happy to invest there and are waiting for what must be more active investigations and environmental actions to lead to an increase in opportunities," Noah said.
Expenses were also up, mainly because of compensation for associates and business professionals, plus the cost of a broader return to the office. Noah lauded the firm's Katten Flex policy, which went into effect in April 2022. Under the policy, department leaders are tasked with deciding when and if attorneys and business professionals need to be in the office.
"Even though we don't require people to come in, we feel like we are doing something right because at least where I sit in New York, we are seeing more and more people coming in," Noah said. "A healthy balance of time in the office and time together and people seeing the value in that feels like the right approach in these times."
"Katten Ups Revenue, PEP in 2022 as Deals 'Held Up Pretty Well,'" American Lawyer, April 4, 2023
New York
