CMS has surpassed the €2bn mark in global revenue for the 2024 calendar year, reporting a 6% increase to €2.073bn, up from €1.957bn last year, as the firm marked 25 years since the formation of the CMS network.
CMS UK changed its financial year to comply with HMRC basis period reforms, with annualised UK revenue for the 2024-25 financial year of £779.1m, up 6% from last year’s figure of £734.7m.
In a statement, the firm said its corporate practice was the biggest contributor to revenue growth in 2024. Other areas of strong performance included dispute resolution, real estate, tax, employment and banking.
Stephen Millar (pictured), managing partner at CMS UK, said in a statement: ‘We have enjoyed another strong year of growth and expansion across our key markets in the UK, Asia, Central and Eastern Europe, and the Middle East.’
He continued: ‘All our core practice areas continue to perform strongly, with our disputes, finance and energy teams, in particular, enjoying an excellent year.
‘As we look ahead, we are confident in our ability to build on the progress of the past year and to deliver even greater success for our clients and our firm in the year to come.’
Pierre-Sébastien Thill, CMS chairman, commented: ‘Our numbers reflect our ability to meet these market demands, all thanks to the dedication and forward-thinking approach of our people as well as the trust of our clients.’
This year, firm promoted 56 partners across its network, up two on 2024, with women accounting for 48% of the cohort, up from 41%.
The year also saw CMS, which has 91 offices across 50 countries, continue to expand its global footprint. Swedish firm Wistrand formally became CMS Wistrand, while Mauritius-based Prism Chambers joined as an associate firm of CMS Africa. The firm also opened a representative office in Silicon Valley focused on business development.
In addition, the firm appointed Hubertus Kolster, senior partner of CMS Germany, as vice-chairman of its executive committee.
The UK financial year also saw some retrenchment, with the firm announcing in January that it was reducing its London real estate team by up to 15 lawyers.
