Business & Lobbying

K Street boom extends into third quarter of 2019

Greg Nash

Top lobbying firms saw huge revenues in the third quarter of 2019, keeping the influence world’s Trump-era boom going strong.

Akin Gump is at the highest-grossing spot, according to the latest Lobbying Disclosure Act reports. The firm reported $11.3 million in revenue for the third quarter, up over 27 percent from the third quarter of 2018.

{mosads}“Contrary to conventional wisdom about legislative activity in Washington, this year has been exceptionally busy for our firm and our clients leading to both our largest quarter and our largest back-to-back quarters in firm history,” Hunter Bates, co-head of Akin Gump’s public law and policy practice, said in a statement. 

Bates touted the firm’s bipartisan team, saying that “more and more clients are seeking the one-two punch of our lobbying team combined with our expansive team of regulatory lawyers.”

Brownstein Hyatt Farber Schreck reported $10 million for the third quarter, which is a 22-percent increase from the third quarter of 2018.

Marc Lampkin, Brownstein’s government relations department chairman, said that although Washington is now in the grips of impeachment drama, that hasn’t stalled work for lobbyists.

“Last quarter reflects again the strength of our team, a great bipartisan team, among some of the strongest young lobbyists in town. I think what we’re seeing is that Washington really can walk and chew gum at the same time,” he told The Hill. “The talking heads all talk about impeachment and oversight but my sense is that both chambers are focused on solving many complex problems.” 

He mentioned health care, technology, transportation, trade with China and the push to approve the new trade deal with Mexico and Canada as policy issues that are keeping the firm busy.

BGR Group reported $7.43 million in revenue, up from $7.24 million in the second quarter.

Squire Patton Boggs also saw growth with $6.33 million in revenue, up from $6.04 million in the second quarter. It reported $6.08 in revenue this time last year.

Holland & Knight reported $6.40 million for the third quarter, up from the $6.04 million it made it the third quarter of 2018.

There’s stiff competition on K Street among smaller firms, many of which reported similar revenues.

Heather Podesta’s firm, Invariant, reported $4.37 million, up over 14 percent from the last quarter when it reported $3.81 million. It has made $11.63 million so far in 2019, up over 21 percent from the $9.54 million it made in the first three quarters of 2018.

K&L Gates saw a slight decline, which it attributed to an increase in its other client work. The firm reported $4.35 million in revenue, down from $4.42 million in the second quarter.

“Our business continues to grow with non-LDA regulatory and investigations legal work generating revenue for the firm,” said Darrell Conner, head of the K&L Gates policy practice. 

“It is one of the values of a law firm platform – we can leverage non-lobbying legal work during periods like a long August congressional recess to help offset the traditional declines in LDA revenues.”

Mehlman Castagnetti Rosen & Thomas remain close behind at $4.2 million in revenue, up from $4.1 million in the second quarter and from $3.8 million this time last year.

Cassidy & Associates made $4.03 million in revenue, up from $3.78 million in the second quarter and $3.7 million this time last year.

Forbes Tate Partners reported $3.83 million in revenue, up from $3.68 million in the second quarter and $3.32 million this time last year. It has made $10.99 million so far in 2019.

CGCN made $2.28 million in revenue, which is up from $2.22 million this time last year.

And, Monument Advocacy reported $2.17 million in revenue, up 5 percent from this period last year. So far for the year, the firm has reported $6.68 million in revenue.

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