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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.
Washington’s Arnold & Porter is following the trend set by its New York counterparts by converting to a limited liability partnership (LLP).
The move, effective from February 2, arrives after a flurry of LLP Manhattan conversations last year including Sullivan & Cromwell and Cravath Swaine & Moore.
Jim Sandman, managing partner at Arnold & Porter, said: “It has become acceptable and commonplace for large US law firms to do this.”
Commenting on whether relatively recent law firm collapses such as the West Coast’s Brobeck Phleger & Harrison and Chicago’s Altheimer & Gray inspired the move, Sandman said: “It was really a result of a number of other large firms becoming LLPs.
“That may have been triggered by risk but for us it is a good way of doing business.”