11th August 2014

Baker & McKenzie Regains Spot as World’s Largest Law Firm

Baker & McKenzie has regained the title of the world’s largest law firm, seeing its revenue rise by 5% in the 2013/14 tax year.

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Baker & McKenzie Regains Spot as World’s Largest Law Firm

The firm reported a total fee income of $2.54bn for the year (£1.51bn).

The figures have also revealed a per partner equity profit of $1.29m (£768,000) while the overall global profit for the year hit $910m (£541.9m). That is an increase of 5.6% from the 2012/13 results of $862m (£556.4m).

Twenty-six percent of the Baker & McKenzie’s revenue came from Asia with the Americas accounting for 36%. Its biggest cash generating region was EMEA, generating 38% of the law firm’s revenue for the year.

Cumulatively the firm made over $1bn for the first time in its history, with the chairman Eduardo Leite quoted in Legal Week as saying:

“All of the transactional areas have been very active”,

Mr Leite went on to reveal that wealthier clients are increasingly confident in the stability of financial markets around the world. This is driving greater strategic moves, he continued, explaining that this is very different to pre-recession deals which saw firms acquire others just to get bigger.

The firm also recently celebrated its own acquisition of South African boutique law firm Vani Chetty. It will use the move to set up its own competition practice in Johannesburg. The last year has also seen new offices open in Brisbane, Dubai and Myanmar.

It has been a year of prominent instructions for the firm too.

Most recently it was mandated to handle the sale of the iconic Gherkin building in the City of London. Officially known as 30 St Mary Axe, it is expected to attract a bidding war in the region of £650m from Chinese and US bidders.

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