A decade of flying the Global 100 has left some legal players frazzled while others have become increasingly energised. Here we chart ten years’ performance by the world’s largest law firms
‘We want to be the number one global law firm and, without a strong US component, we won’t achieve that,’ – this comment, made by Linklaters managing partner Simon Davies in 2008, reflects a perennial issue since Legal Business first began producing its own list of the top 50 global firms by revenue in 2004. The tussle between the UK Magic Circle and the Wall Street elite has dominated agendas since that period. Continue reading “Global 100: The long haul”
The dominance of US firms; the challenges in Asia; the strategic dilemmas – leaders from the world’s elite law firms and bluechip clients give their perspective on a turbulent global market.
Despite facing considerable reverses in the wake of the 2008 banking crisis – which saw a sharp fall in revenues and profits in its 2009 financial year – the US-based Latham & Watkins looks to have settled back into a solid upward track.
The Los Angeles-bred firm had another robust year in 2012, reinforcing its position among the global elite with a 6% growth in net profits to over $1bn. After achieving top quartile growth for the 2011 financial year, revenue growth was this time more subdued, rising 3% to $2.22bn while profit per equity partner (PEP) rose by 8% to $2.4m. In the last full boom year of 2007, Latham posted revenues of $2bn, against PEP of $2.27m. Continue reading “Global 100: Latham & Watkins”
How the Global 100 has gone from turning over $71.6bn to $85bn in five years.
The world’s largest passenger plane, the Airbus A380, costs $403.9m dollars to buy. Mayer Brown, ranked 22nd in the Global 100, could buy one A380 with a year’s total equity partner profits. The equity partnership at Latham & Watkins and Skadden, Arps, Slate, Meagher & Flom could probably do a deal to buy three apiece – they almost earn enough cash.