Akin Gump Strauss Hauer & Feld
Big Law firm known for lobbying and bankruptcy/restructuring work, #38 Am Law 200.
On the record
Checkpoint: November 2026 midterms could swing political control and cool lobbying demand
The call
Akin is growing fast on lobbying and restructuring work that AI does not touch, while AI quietly squeezes the associate work underneath it.
Akin Gump is a large law firm that makes money two main ways: lobbying the government for clients and handling bankruptcy cases when companies are in trouble. Both of these businesses are hard to replace because they depend on long-term relationships with politicians and clients, and on lawyers who have spent years building trust and expertise in complicated situations. Artificial intelligence can help with routine work like reading documents and writing first drafts, but it cannot do the high-level relationship and judgment work that brings in Akin's biggest fees. The one thing that could change this picture is if other law firms start charging clients differently (not based on how many junior lawyers do the work) faster than the number of junior lawyers actually shrinks, which could pressure profits even if the top lawyers stay busy.
Why
01
AI pressure: None apparent. AI tools cut into document review and first-draft drafting, the commodity work junior associates bill for, not the lobbying or restructuring judgment partners sell. Could AI do the core job? Unlikely.
02
Bigger players: None apparent. No single big company is trying to replace Akin's lobbying relationships or bankruptcy judgment; the pressure is diffuse, industry-wide billing change. Could a giant copy it? Probably.
03
What protects it. Relationships with lawmakers and regulators, plus bet-the-company legal judgment on bankruptcy cases that clients pay for regardless of software.
What would change this call
Akin's FY2026 PEP growth rate versus FY2025's 17.6%. Tests whether AI-driven billing pressure is compressing partner profits industry-wide.
Lobbying revenue trend after November 2026 midterms. Shows whether political control shifts cool Akin's record $65.3M government-relations stream.
Any outbound departure of named restructuring or lobbying rainmakers to rival firms. Would signal cracks in the relationship-based franchises the firm depends on.
Lobbying revenue trend after November 2026 midterms. Shows whether political control shifts cool Akin's record $65.3M government-relations stream.
Any outbound departure of named restructuring or lobbying rainmakers to rival firms. Would signal cracks in the relationship-based franchises the firm depends on.
Key numbers
- FY2025 revenue up 14.5%
- FY2025 lobbying revenue hit record $65.3M
- FY2025 profits-per-partner up 17.6%
Named risks
- Associate-leverage economics face AI-driven margin compression as hourly billing erodes industry-wide.
- Lobbying revenue is tied to midterm election cycle and trade policy, subject to sharp swings post-November 2026.
- Active two-way lateral market means rainmaker partners can be poached by rivals like White & Case or Kirkland.
- Akin ranks outside the top two in both its flagship lobbying and bankruptcy franchises, exposing it to incumbent share loss.
Rivals, as read in July 2026
| Rival | Direction | Evidence |
|---|---|---|
| Ballard Partners | losing to | Ballard's 2025 lobbying revenue hit $88.1M, up 350%+, versus Akin's record $65.3M as of Jan 2026 |
| Brownstein Hyatt Farber Schreck | losing to | Brownstein posted $73.8M in 2025 lobbying revenue versus Akin's $65.3M, per Jan 22, 2026 report |
| Kirkland and Ellis | losing to | Kirkland holds 70.3% bankruptcy vote share versus Akin's 7.53% as of Jan 2026 ranking |
| Sidley Austin | gaining on | Akin poached a 4-partner PE team from Sidley in New York and London, May 12, 2026 |
| White and Case | losing to | Akin lost a restructuring partner to White & Case in Hong Kong, July 7, 2026 |
| Weil Gotshal and Manges | contesting | Weil holds 46.6% bankruptcy vote share versus Akin's Band-1 Elite status but #7 vote share, Jan 2026 |
Questions people ask
- Is Akin Gump profitable in 2026?
- Yes. Akin reported its third consecutive record year in results announced February 26, 2026, with revenue up 14.5% and profits-per-equity-partner up 17.6% year-over-year, building on a 23.5% PEP increase and near $1.5B revenue reported in March 2025.
- Could AI replace lawyers at Akin Gump?
- AI is unlikely to replace Akin's core lobbying and restructuring work, which depends on relationships and regulatory judgment, but a Deloitte survey published July 8, 2026 found legal leaders expect AI to automate an average 28% of legal work within 2 to 3 years, pressuring associate leverage economics.
- Who is Akin Gump's biggest competitor in lobbying?
- Ballard Partners overtook the lobbying field with $88.1M in 2025 revenue, up more than 350% year-over-year, and Brownstein Hyatt Farber Schreck led with $73.8M, both ahead of Akin's record $65.3M in 2025 lobbying revenue, per a January 22, 2026 report.
- Is Akin Gump growing or shrinking headcount in 2026?
- Growing. Akin's self-reported lawyer count rose from more than 900 in a January 5, 2026 press release to more than 1,000 by June 10, 2026, driven by 27 lateral partner hires in 2025 and 20-plus more since the start of 2026.
- Is Akin Gump a top bankruptcy law firm?
- Akin holds Chambers Band 1 Elite status in bankruptcy and restructuring, but by Vault's vote-share ranking it sits at #7 with 7.53%, well behind Kirkland & Ellis at 70.3% and Weil, Gotshal & Manges at 46.6%, per a January 22, 2026 ranking.
- Is Akin Gump losing partners to rivals in 2026?
- Both ways. Akin gained a four-partner private equity team from Sidley Austin in New York and London on May 12, 2026, while losing a restructuring partner to White & Case in Hong Kong on July 7, 2026, amid an active lateral market.
Timeline
- 2026-07-22Akin's lobbying arm on pace for record 2026 year, Q2 revenue climbing versus Q1
- 2026-07-07Akin restructuring partner departs for White & Case in Hong Kong
- 2026-06-16Akin hires Anne Callender as Chief Business Development Officer amid growth surge
- 2026-06-10Akin press release cites more than 1,000 lawyers firmwide
- 2026-05-12Four Sidley Austin private equity partners join Akin in New York and London
- 2026-02-26Akin reports third consecutive record year: revenue up 14.5%, PEP up 17.6%
- 2026-01-22Akin reports record $65.3M 2025 lobbying revenue, up 15% year-over-year
- 2026-01-05Akin press release cites more than 900 lawyers and 27 lateral partners added in 2025
- 2025-07-22Akin's Q2 2025 lobbying revenue hits $16.3M, second-highest quarter in firm history
- 2025-03-11Akin reports FY2024 revenue near $1.5B and PEP up 23.5%
Revision history
23 July 2026
First assessed. Hard to displace. The text above is fixed as of this date and is not edited afterwards.
In the same band
Sources
- Akin's PEP Spikes 23.5%, Revenue Nears $1.5B, as Firm Continues Upward Trajectory (2025-03-11)
- Expert Legal Recruiters for Attorneys & Lawyers
- Focused on Growth in Key Practices, Akin Posts Double-Digit Increases in Revenue, Profits and PEP (2026-02-26)
- Focused on Growth in Key Practices, Akin Posts Double-Digit Increases in Revenue, Profits and PEP (2026-02-26)
- How Lobbying Turned Into Big Business for Top Law Firms in 2025 (2026-01-22)
- Lobby Giants Cash in on Trump Tax Bill as Brownstein Hits Record (2025-07-22)
- Several Big Law Firms on Track for Record-Setting Year for Lobbying Income (2026-07-22)
- Akin, Bankruptcy/Restructuring
- Akin Promotes 12 Lawyers to Partnership (2026-01-05)
- Akin Continues Expansion of Global Private Equity Platform with Addition of Corporate Partner Dilen Kumar (2026-06-10)
- Akin, Global 2026
- Akin Adds Chief Business Development Officer Anne Callender Amid Growth Surge (2026-06-16)