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Dechert's European Offices Help Boost Strong Financials, Despite 'Difficult Year' for Industry
Dechert's strongest year ever in its international offices and the right mix of practice areas helped garner a 14.7 percent increase in gross revenue for 2007 -- a year that firm Chairman Barton J. Winokur said was "difficult" overall for a "fiercely competitive" industry dealing with the largest cost increases he has ever seen -- due partly to salary and bonus increases. Dechert's strategy for growth has differed from many of the large firms that have been focused on mergers over the past few years.