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.
Baker & McKenzie London managing partner Gary Senior has been reelected for a third term at the helm.
Corporate lawyer Senior first took on the managing partner role in 2003 and is nearing the end of his second three-year term. His third term will begin in September.
Going into his second term in 2007 Senior said growth in London was to be a priority, but the firm was hit, like its rivals, by the global recession.
In the last financial year, which ended on 31 June 2009, the London office saw turnover drop by just over 3 per cent, down from £119.8m to £115.7m.
At the same time average profit per equity partner (PEP) in the City dropped by 33 per cent, down to £380,000 from £572,000. The firm as a whole performed better in PEP terms, with global PEP dropping 17 per cent during the same period.
Senior said: “The last few years have been difficult in the economic climate. It’s been hard for all firms but I feel that we’ve actually made good progress in areas like client relationships during that period.
“The next few years are potentially exciting for us. Our strategy hasn’t changed and we want to deliver on that in the next few years.”
Senior said his priority for his third term would be to increase profitability “significantly” and to grow in transactional practices.
The firm’s Chicago-based firmwide chairman John Conroy is also nearing the end of his current term and it is understood that he will not seek a further term in office. The election process to find a replacement is already under way with all candidates based outside the US.