The Lawyer Africa Elite 2014 features an in-depth look at 46 leading independent firms’ strategies in 15 key sub-Saharan jurisdictions, as well as the views of in-house counsel from some of Africa’s largest companies... 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 (B&M) has had a storming year in London, with profit per equity partner (PEP) shooting up 33 per cent from last year's £335,000 to £445,000.
The London office comfortably outstripped the performance of the rest of the firm, which saw PEP rise just 3.3 per cent, from £363,000 last year to £375,000.
"It's all in the turnover. We've had a much stronger year across the board and in particular a lot of the growth is corporate and banking-driven," said B&M UK managing partner Gary Senior.
Turnover in London rose 9.5 per cent, from £84m at the end of the 2004 financial year to £92m. Across the globe, B&M's revenues were up just 2.3 per cent, from £691m to £707m.
Senior said: "Last year was a poor one for us so we started from a lower base, but it's well above what we were targeting. We set a target of £400,000. Costs have been reasonably static... and there were no big investments. It's all about driving the revenue line."
Corporate clients that have been particularly active include BP, EQT and United Business Media.