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.
It could have created one of the worlds largest law firms, but the merger talks between New Yorks Dewey Ballantine and San Franciscos Orrick Herrington & Sutcliffe collapsed at the beginning of the year.
Although neither firm has a massive UK presence, both have invested heavily in their European networks recently. Orrick has always been desperate to bulk up in London; it took on much of the London office of international firm Coudert Brothers in 2005. (Those defections triggered a chain reaction that led to the collapse of Coudert last year.)
In any case, the London offices were pretty lukewarm about the merger Orrick London managing partner Martin Bartlam told The Lawyer that his office had always been fairly neutral to the merger.
But the thing that got the whole market talking was The Lawyers revelation (15 January) that Orrick chairman Ralph Baxter demanded a guaranteed $25m (12.9m) payout had the proposed merger gone through. (Baxters demands for unlimited first-class air travel for himself and at least one family member did not help much either.)
The payout demand plus wranglings over who would end up controlling the merged firm contributed strongly to Deweys decision to walk away from a merger that could have produced a global top 10, $1bn (515m)-turnover law firm.