Baker & McKenzie
International Top 30 position: 1
Baker & McKenzie, which has 72 offices in 45 countries, posted a 2.1 per cent rise in global revenue for the 2011–12 financial year, taking the firm's total worldwide income to a record $2.3bn and firmly confirming its position as the world's largest law firm by turnover.
According to the firm, Bakers’ revenue gains were primarily driven by double-digit growth in Latin America, particularly in the firm’s Brazil practice, where it benefited from a fast-growing economy and a significant rise in investments. The firm has offices in seven countries across the region and most recently opened an office in Peru via a tie-up with local firm Estudio Echecoper.
The firm noted a more modest single-digit increase in Asia Pacific in 2011–12, while revenues were flat across North America and Europe, the Middle East and Africa.
Nonetheless, the firm had a number of successes in these regions, not least being appointed as preferred legal adviser for FTSE250 telecoms company Colt for all of its commercial work in Europe. The three-year fixed-fee deal is estimated to be worth around £1m a year to Bakers, which won the bid following a competitive tender that involved around 45 firms across Europe.
In November 2012 the firm announced it had put in an application to South Korea’s Ministry of Justice (MoJ) to open an office in Seoul.
Bakers has a strong litigation practice and posted a global litigation turnover of $578.3m in 2011, which saw the firm ranked in twelfth place in The Lawyer Litigation Top 50 2012.
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Overview100 New Bridge Street
Firmwide revenue 2011 ($m): 2,313.0
Global lawyers 2011: 3,805