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Dechert’s Revenues, Profits Dip 5% After Double-Digit 2019 Increases

CEO Henry Nassau said that outside the U.S., where the firm does roughly one-third of its business, both COVID-19 and political realities posed challenges. The firm had its best year ever in Singapore, but that was not the case in Beijing, Hong Kong or even London.

by capitalizefinancial
March 23, 2021
in World
0
Dechert’s Revenues, Profits Dip 5% After Double-Digit 2019 Increases

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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