Dechert followed an exceptionally strong 2019 with dips of over 5% in revenue and profitability in 2020, but CEO Henry Nassau reports that nearly three months into the current year, the top line is up by 12%.
Nassau pointed to the postponements of 20 trials and two major settlements, along with a decline in the firm’s capital-facing practices in the early months of the pandemic, to explain the decline. The firm did remain over the $1 billion mark for the third straight year, with revenue of $1.07 billion, while avoiding reductions to compensation and personnel.
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