A five-year view of the LB100 underlines the profound impact globalisation has had on the UK’s top firms but also the soaring success of the best mid-pack players. Legal Business analyses the winners and losers since Lehman unleashed a storm
The five years that have passed since 2008, when the previous year’s credit crunch morphed into full economic meltdown, have been, in relative terms, the bleakest period economically in the UK since the Second World War. Yet despite this, with the exception of 2009/10, when total revenues tumbled 14%, collectively the UK legal profession has grown remarkably during that period. In our 2008 report, total turnover of the top 100 firms was £13.96bn. This year, those top 100 firms have amassed revenues of £19.1bn, an increase of 37%.