Revenue generated by UK legal services rises almost 8% to £47bn, report finds

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Revenue generated by UK legal services rises almost 8% to £47bn, report finds

The total revenue generated by UK-based legal services increased by 7.7% last year to a total of £47.1bn, according to a new report released today (10 December). The report, ‘UK legal services 2024: Legal excellence, internationally renowned’, is the 13th annual report from industry body TheCityUK, which represents UK-based financial and professional services businesses, and is …

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‘Everybody wanted to be on that bus’: Baker Botts on its award-winning Saudi green hydrogen deal

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‘Everybody wanted to be on that bus’: Baker Botts on its award-winning Saudi green hydrogen deal

Baker Botts walked away from this year’s Legal Business Awards with the trophy for energy/infrastructure team of the year, in recognition of the firm’s work advising Air Products and Chemicals on Saudi Arabia’s landmark NEOM Green Hydrogen Project. LB spoke with two of the lead partners on the deal to discuss getting it over the line, the …

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Global 100 Overview: G100 defy gloom to pass $150bn

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Global 100 Overview: G100 defy gloom to pass $150bn

‘It looked like we were in for a rough time – but the markets stood up well.’ DLA Piper global co-chief executive Simon Levine’s take on the financial year neatly sums up the overriding sentiment about the year gone by, which started with much-cited concerns over inflation and global instability, but ended with law firm leaders …

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‘More uncertainty than any other recent election’ – US partners on what the Trump-Harris race means for Big Law

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‘More uncertainty than any other recent election’ – US partners on what the Trump-Harris race means for Big Law

The comparison between City partners’ attitudes to the UK general election in July and US partners’ attitudes to next Tuesday’s elections could not be starker. Then, not one partner interviewed doubted that Labour would emerge the winner. Now, it’s a coinflip – with even more uncertainty around what either candidate would do in office. LB checked …

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‘What sort of profession do we want to have?’ – young Black lawyers on diversity, inclusion, and what needs to be done

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‘What sort of profession do we want to have?’ – young Black lawyers on diversity, inclusion, and what needs to be done

‘There’s lawyers all over the world. The question isn’t whether or not Black people can be lawyers. The question is, what is it about England and Wales that means that Black lawyers don’t get the same opportunities as their white counterparts? And there’s no way to explain that other than racism.’ This comment from one …

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‘Freeths who?’ no more: LB’s firm of the year on brand revolution, their ‘watershed’ win – and what’s next

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‘Freeths who?’ no more: LB’s firm of the year on brand revolution, their ‘watershed’ win – and what’s next

Last month, Freeths was named Law Firm of the Year at the Legal Business Awards, capping off a remarkable period for the firm that has seen it post yet more double-digit financial growth, achieve B Corp certification, and receive unprecedented attention for its role representing the postmasters in the Post Office Horizon scandal. LB checked in …

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‘Private credit are the new banks’: Proskauer’s A&O and Cahill hires on the US firm’s ambitious finance push

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‘Private credit are the new banks’: Proskauer’s A&O and Cahill hires on the US firm’s ambitious finance push

Speak to almost any major firm active in the finance space and you’ll hear about private credit. The industry matured as banking regulations tightened in the wake of the 2008 crash, and has surged since banks pulled back on lending after the interest rate hikes from early 2022. According to merchant banking, global advisory, and …

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