Legal Business

LB100: relative revival for City elite in 2016 as a range of smaller players excel

The big four Magic Circle firms have posted their strongest performance in this year’s Legal Business 100 (LB100) since the recession, despite a subdued market overall. Although average revenue for the top 25 is down 3% to £622m, the combined revenue of Freshfields Bruckhaus Deringer, Linklaters, Clifford Chance and Allen & Overy (A&O) stands at £5.33bn, up 4% on last year, while average profit per equity partner (PEP) jumped 5% to £1.33m.

A&O managing partner Andrew Ballheimer said: ‘The year has seen mixed markets around the world. In that context these are another set of solid results which highlight our people’s ability to spot opportunities for growth.’