The Lawyer’s new China Elite report contains the most detailed research available on the PRC legal market and contains unparalleled insight into the country's leading law firms. They vary in size, practice focus and geographic coverage, but they all share one common quality – ambition... 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.
DLA Piper’s global revenue inched up by 1.7 per cent for the 2013 calendar year, rising to $2.48bn (£1.56bn).
The results follow an increase of more than 8 per cent between 2011 and 2012, to $2.44bn (£1.55bn) (7 February 2013).
Having stayed relatively static in 2012, revenue per lawyer increased 3.3 per cent from $605,000 to $625,000 in 2013.
The number of equity partners fell in 2013 from 461 to 454, gifting those that were left a 1 per cent rise in average profit per equity partner to $1.325m.
However, DLA Piper’s profit margin fell from 25 to 24 per cent and despite the slight improvement in the firm’s top line, net profit dropped by 0.3 per cent to $602m.
The global revenue comes shortly after DLA Piper’s International LLP accounts revealed that net debt dropped by 32 per cent in 2012/13 for all the firm’s operations outside of the US. The highest paid partner – understood to be the firm’s joint chief executive and managing partner Nigel Knowles – received £1.8m in 2012/13, a 3.3 per cent increase on 2011/12 (4 February 2014).
Earlier this month DLA Piper partners were told the firm was set for a leadership shake-up, with Knowles to replace Tony Angel as global co-chairman and London IP partner Simon Levine to be appointed as the firm’s next joint CEO (4 February 2014).
Joining Knowles on the US side as global co-chair will be Roger Meltzer, who is currently Americas co-chair and leader of the corporate and finance practice. Meltzer’s colleague as Americas co-chair, Jay Rains, will become the joint global CEO alongside Levine.
All the moves, which are subject to a partner consultation this year and a vote in September, will be effective from 1 May 2015. Angel will continue as senior partner of the international firm.