Greenspoon Marder Reports $87.5M In 2013 Revenue
Fort Lauderdale-based Greenspoon Marder, disclosing its financials for the first time, reported $87.5 million in gross revenue in 2013.
The 133-lawyer firm also reported average revenue per lawyer of $655,000, and profit per partner and average partner compensation of $350,000 in 2013. The compensation numbers are on the low end for large South Florida law firms.
The firm posted net income of $23.5 million for a 27 percent profit margin.
Greenspoon Marder merged with another major Fort Lauderdale law firm, Ruden McClosky, in November 2011, picking up about 60 of that firm's lawyers after it filed for bankruptcy protection. The combined firm now has 68 partners, all equity, and other offices in Aventura, Boca Raton, Miami, Naples, Port St. Lucie, Orlando, Tampa and West Palm Beach.
Joe Ankus, a legal headhunter with Ankus Consulting of Weston, said the numbers show the success of the Greenspoon-Ruden merger.
"I think the way you have to look at Greenspoon is the post-Ruden merger has worked out well, and it seems to be a success story," he said. "Those numbers don't lie. It sounds like they are a firm that is on the move, and I would be surprised if they didn't have a strong 2014. They are not a Greenberg Traurig, but they have a very strong regional presence and are very well known in the Florida market."