Holland & Hart Firm Chair Chris Balch recently spoke with The American Lawyer about the firm’s unexpected growth and record results.
In a “banner” year, Holland & Hart increased revenue by 11.3%, net income by 18.1%, and “bumped” PEP by 22%.
Balch attributed the firm’s success to a few key factors, including rising demand in all major practices, not overhiring, and identifying areas where its specialized services were underpriced relative to the market.
Disputes and deals in the oil and gas, extractive industries, renewable energy, and rising demand particularly in construction and development, tax, and commercial litigation, contributed to Holland & Hart’s success.
Balch shared, “we entered the year planning conservatively and thought maybe we were approaching a recessionary period. But with our value proposition, our strategic initiatives and strong culture, we had an incredible year with increases in every financial metric.”
Balch commented, “the firm’s opportunistic approach to hiring amid uncertainty in 2023 helped keep costs down,” adding, “we focused on making sure we kept people busy and retained our teams.”
Asked about the remainder of 2024, Balch said he is “more bullish” than he was in 2023 and the firm has “a renewed focus on growth.”
Balch also said, “in the hybrid environment, it’s necessary for us to be so much more intentional about cultural commitment to excellence,” adding, “if we don’t do soft skills and leadership-focused training, even new training for incoming partners, it’s an opportunity lost.”
Read the full article, “Holland & Hart Posts 22% PEP Bump Thanks to Strong Demand, Cost Management.”