Hughes Hubbard’s Revenue, Profits Spike

During a year of extraordinary economic turbulence, 280-lawyer firm Hughes Hubbard made double-digit gains in gross revenue and profits per partner. The firm posted a 10 percent increase in gross revenue in 2009, with profits per equity partner rising 9.7 percent. Another sign that things are good for Hughes Hubbard: Word leaked out last month that the firm was unfreezing its salaries and reinstating Cravath-scale bonuses.