The Lawyer Africa Elite 2014 features an in-depth look at 46 leading independent firms’ strategies in 15 key sub-Saharan jurisdictions, as well as the views of in-house counsel from some of Africa’s largest companies... Read more
This year, The Lawyer’s annual ranking of the largest UK law firms by turnover is available as an interactive, digital benchmarking tool. For the first time this will allow you to manipulate each data set against the metrics of your choice.
Bird & Bird has revealed its total international turnover for 2011-12 as £235m, marking a rise of 10 per cent from last year’s figure of £214.6m.
Profit levels are still being calculated as the firm has one global profit pool, but it said it witnessed growth in every area, with corporate and contentious work in particular contributing income.
The firm said that Asia in particular showed strong growth during the year, with its offices in Spain and Germany also doing well despite the current economic climate and eurozone crisis.
In April, Bird & Bird made up a dozen new partners, marking a return to 2009 promotion levels (11 April 2012).
Last year, Bird & Bird’s total turnover was up 6.3 per cent from £201.8m in 2009-10, with a consistent growth across its 23 offices. The Lawyer calculated its average profit per equity partner as around £467,000.
Chief executive David Kerr said there had been growth in each of the firm’s 23 offices across 16 countries.
He said: “It’s outstanding growth. We’ve stuck to our strategy in difficult times. Focusing on high-end expertise and an industry sector focus enables us to bring in a lot of big business, lawyers and clients, even in a difficult market.
“The results are much better than I thought we were likely to do at the beginning of the year. We were all quite realistic about the economic market.
“There’s also an element of past investment in new offices paying off. It takes time, but now we’ve got a pretty extensive international reach that becomes a differentiator in its own right. It’s very attractive to clients in Europe, the Middle East and Asia.”
Kerr said that the energy sector is also becoming a “major growth area” for Bird & Bird with some “spectacular” fee income driven by the increasing use of technology in energy projects.
Kerr also revealed that average profit per equity partner is likely to see double digit growth when the figures are finalised and that the firm’s revenues are moving back towards pre-crash 2007 levels.