Citi Group: 2014 Was a Good Year as Deals Boosted Profits

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Feb. 13— As many who work in the legal industry predicted, 2014 was a good year. Law firms, eager to share their good results, have been announcing their earnings since the beginning of the month, around the same time they report them to American Lawyer, the trade publication, for its annual rundown. Now, Citi Private Bank Law Firm Group has released its own findings for the year, compiled from reports from the biggest law firms, along with smaller, regional firms. In all, data from 179 firms were evaluated. The result: net income rose 6 percent over 2013 and profit per equity partner climbed close to 6 percent as well. Most firms improved, whether the very largest or more regional firms, but as in 2013, “the largest and most global firms performed the best,” according to the report.

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