Tampa law firm continues financial climb

Holland & Knight rises 13 places to 28th on American Lawyer's list of the biggest firms for 1999.

By SCOTT BARANCIK

© St. Petersburg Times, published July 6, 2000

Tampa -- A new survey of the nation's 100 top-grossing law firms shows Holland & Knight keeps climbing the charts.

The 1,020-attorney firm, which is based in Tampa but has offices in more than 20 cities, rose to 28th place on American Lawyer's list of the biggest firms for 1999, up from 41st in 1998. Holland & Knight's revenues grew 31 percent to $297.5-million.

The only other Florida-based law firm to appear on the top 100 list was Miami's Greenberg Traurig, which ranked 52nd at $212.5-million.

Holland & Knight also distinguished itself with its pro bono work. The firm ranked 16th out of 100 in the amount of legal services it provided free of charge to the poor. In 1999, the typical attorney at the firm logged 46 hours of pro bono representation. Covington & Burling of Washington, D.C., topped the list with 106 pro bono hours per lawyer.

"We've had a business model that's working well nationally," said Bill McBride, Holland & Knight's managing partner. "Our per-client charges went down last year, but overall, we had so much more work that our gross went up."

Holland & Knight's climb comes against a backdrop of growth and consolidation in the legal industry. From 1990 to 1999, the number of attorneys employed by top 100 law firms grew from an average of 364 to 510. Revenues shot up, too. Last year, the New York firm of Skadden, Arps, Slate, Meagher & Flom took in $1.025-billion, the first time a law firm has topped $1-billion in revenue.

Even so, Holland & Knight has been something of a standout. Only one top 100 firm had faster revenue growth during those 10 years, and the firm added 200 attorneys since last year's count.

But its lawyers generated less revenue per person than their peers in the average top 100 firm. Revenue per lawyer at Holland & Knight averaged $365,000 in 1999, or 93rd nationwide. Profits per equity partner averaged $395,000, placing the firm 81st.

McBride defended the revenue and profit figures. In addition to lowering its fees, he said, the company is concentrated in low-cost states such as Florida where a dollar of profit goes far. "They should adjust these figures based upon the markets they're in."

At a glance

Name: Holland & Knight

Managing partner: Bill McBride

Attorneys: 1,020

1999 revenues: $297.5-million

National rank, revenues: 28th

Rank, revenues per lawyer: 93rd

Rank, profits per equity partner: 81st

Rank, pro bono work: 16th

Source: American Lawyer

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