Tonight (30 September), the legal profession’s finest will once again gather at the Grosvenor House Hotel to celebrate their achievements over the last year.
Eight firms have made the shortlist for the coveted Law Firm of the Year trophy – here’s what makes each of them a contender.
Burges Salmon
With revenue up nearly 50% since the launch of its ‘BAmbitious’ strategy in 2021, and revenue up from £163m to £178m in its most recent set of financial results, Burges Salmon has continued an impressive streak of growth, which has seen the Bristol-based firm become one of the UK’s most consistent performers.
The firm now counts among its clients names such as the Bank of England, Virgin, John Lewis, and Amazon, while recent highlight matters include its work on both the Covid-19 and Post Office inquiries, and its advice to US-based medical tech group AOTI on its $140m US IPO – the largest alternative investment market IPO since 2021.
Burges Salmon also retained its place on the FCA’s updated panel, which will run for four years from 1 April 2025 to 1 March 2029.
Cleary Gottlieb Steen & Hamilton
With eight nominations in total, in areas including competition, corporate, finance, and private equity as well as ESG, Cleary Gottlieb has had another strong year, recognised with 21 top-tier Legal 500 rankings in this year’s US guide – the fourth-highest of any firm – and advising on 64 deals worth $123.3bn in H1 2025, leaving the firm in tenth place by global deal value.
Recent work highlights include advising French broadcaster Canal+ on its £2.5bn IPO in December last year, while in March the firm also acquired generative AI product development company Springbok AI, significantly increasing its ability to integrate AI and data analytics into its workflows.
In September, the firm announced that Jeffrey Karpf will take over from Michael Gerstenzang as managing partner from 1 January 2026, with Gerstenzang to step into a newly created role as senior partner.
Freshfields
Freshfields has continued to make waves on both sides of the Atlantic, and the breadth of its success is evident in its LB Awards nominations, which see the firm listed for a total of eight nominations, from corporate, competition, and finance to restructuring, commercial litigation, and ESG.
While it no longer reports its financial results, the firm’s most recent LLP accounts showed revenue up 18%, passing £2bn for the first time. This included 26% growth in the US, where Freshfields has pushed for an aggressive buildout, with results including its first significant US transaction for Merck, advising the pharma giant on its $10bn acquisition of UK biopharma company Verona Pharma this July.
The year also saw the firm rebrand, dropping Bruckhaus Deringer from its name, and reappoint senior partner Georgia Dawson (pictured right), who is shortlisted for Management Partner of the Year.
The firm also made headlines in April with its decision to become the only top 20 firm to sign amicus briefs supporting Perkins Coie and other firms targeted by US President Donald Trump in executive orders.
Latham & Watkins
Of the eight firms up for Law Firm of the Year, Latham & Watkins stands apart from its competitors in terms of sheer size, with more than double the revenue of any other firm on the shortlist.
The firm has enjoyed yet another marquee year in 2024, with revenue reaching a record $7bn and partner profits exceeding $7m.
During the year it advised on 31 US IPOs, five of the top ten European take-privates, and three of the top five UK M&A deals, underlining its place at the top of the market on both sides of the Atlantic.
The firm also overhauled its remuneration structure to enable it to attract the very best talent – and the effort appears to be paying off, as evidenced by the recent eye-catching hire of star Wachtell dealmaker Zach Podolsky in New York.
Osborne Clarke
Osborne Clarke reported record international revenues of €547.5m this year, with UK profit per equity partner (PEP) breaking the £800,000 mark for the first time.
The results mean the firm has now grown its topline turnover by 72% in the last five years, and it is not resting on its laurels. The firm is investing heavily in a new international practice management and finance system that CEO Omar Al-Nuaimi (pictured) says will help drive more growth over the coming five-year strategic period.
The firm’s UK arm was a top performer last year, with revenue rising to a record high of £256.6m and PEP up nearly 5% to £806,000, with the UK team rewarded with a 5% profit share as a result.
OC is also up for two other awards – Marketing Initiative of the Year, for its work on its redesign of its flagship healthcare sector publication, and Legal Technology Team of the Year, for an innovative asset management platform developed for a major retail leasing client.
Russell-Cooke
With revenues of £56.1m and around 230 lawyers, Russell-Cooke is smaller than the other seven contenders, but a mix of commercial, not-for-profit, and private client work, combined with a deep commitment to responsible business, help the Holborn-headquartered firm stand out.
A turnover increase of 11.3% in 2024-25 means that the firm has now seen its top line grow by 55% over five years – considerably ahead of its growth strategy.
Recent work highlights include advising CNBC on a new central London lease and advising urban developer Bloom on its £21.5m acquisition of Poplar Business Park, while on the contentious front, the firm has successfully represented victims of the Grenfell Tower disaster and acted for Amnesty International at the Supreme Court in the headline-making case over the definition of ‘woman’.
Russell-Cooke’s commitment to diversity and inclusion runs through its partnership, with women making 46% of partners and 72% of all fee earners, and stories from LGBTQIA+ lawyers shared to foster openness and visibility.
Simpson Thacher & Bartlett
Simpson Thacher had a standout year for deal work in 2024, which also saw the firm nominated for corporate team of the year, finance team of the year, and private equity team of the year, alongside its firm of the year nod.
Work highlights included advising trophy private equity client Blackstone on a landmark $20bn partnership with UK insurer Legal & General, as well as representing JPMorgan in the high-profile bankruptcy cases concerning US fashion accessories retailer Claire’s.
The firm’s London presence has continued to grow, with real estate M&A partner Wheatly MacNamara taking over as office managing partner last October, succeeding private funds heavyweight Jason Glover, who had led the office since 2016.
Taylor Wessing
Shortlisted in five other categories – litigation, real estate, legal tech, marketing, and private client – Taylor Wessing had a strong year in 2024, moving a step closer to what UK managing partner Shane Gleghorn (pictured right) called its ‘ambitious but attainable‘ target of €1bn in revenue by 2028-29, with turnover up 10% to €619m (£526m).
The firm expanded in Europe with a strategic alliance with Italian firm Orsingher Ortu, announced in March, further extending its reach after it launched in Dublin in 2021.
Its real estate shortlisting was secured on the back of its successful advice to real estate developer Comer Homes on its planning appeal for the Mast Quay Phase II residential development in Greenwich, while other recent deal highlights include advising AI-driven retail solutions firm Rezolve AI on the establishment of its $1bn Bitcoin treasury programme and advising Vinted on its secondary share sale, which valued the company at €5bn.
Click here for more information about the Legal Business Awards.
