The Lawyer Asia Pacific 150 is the only research report to provide a ranking of the top 100 independent local firms and top 50 global firms in the region. The report offers critical review of some of the fastest growing firms and their strategies, a country-by-country guide to leading legal advisers and legal services market trends, plus exclusive insight into the current business development opportunities in the Asia Pacific. 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's profits have sunk to their lowest point since 1998, as the firm continues to sacrifice profits to fund international expansion. Preliminary figures released to The Lawyer reveal that profits per equity partner are down to £317,000, a dip of 12 per cent from last year's £360,000. Bird & Bird chief executive David Kerr said: "The partnership believes passionately in the internationalisation of the firm and that in the long run we will achieve stable, stronger profits from it." Gross fees have risen 15 per cent from £53.3m to £62.5m for the last financial year. And although revenue has more than trebled in the past five years, profits per equity partner are lower than 1998's figure of £337,000, and show a dramatic slump from 2001's high point of £402,000. During the past year, the firm has opened offices in Düsseldorf and Milan and recruited heavily in its office in The Hague, boosting lawyer numbers by almost 30 per cent to 287. Kerr said: "The last year is probably the last really big hit because we've absorbed most of the investment costs. There is a feeling that the offices are now pretty robust and moving into full contribution territory. I've always believed passionately in the need to invest in the downturn and I genuinely think we've done that rather than feeling sorry for ourselves and retrenching."