French firms post record figures; accountancy-tied firms are the ones to watch
The french legal market has had a record year, with turnover for the top 100 firms in France up by 24 per cent to nearly FFr12bn (£1.16bn). Last year, 18 per cent of firms made between FFr100m (£9.63m) and FFr200m (£19.26m), this year that figure rose to 23 per cent. Fidal is the largest firm, with 1,206 fee-earners, nearly twice the number in the second largest firm, PricewaterhouseCoopers' affiliated French firm Landwell. This year, Fidal's turnover was FFr1.374bn (£132.34m), while Landwell's was FFr768m (£73.97m). Accountancy-tied firms HSD Ernst & Young and Andersen Legal came in third and fourth position with turnovers of FFr626m (£60.3m) and FFr608m (£58.56m) respectively. Gide Loyrette Nouel also had a good year, making FFr552.8m (£53.25m) in France. UK firms Clifford Chance, Freshfields Bruckhaus Deringer and Linklaters & Alliance all came in the top 10. Deloitte & Touche did not do particularly well, and despite being France's seventh largest firm, it came tenth in respect of turnover. The survey, published by Paris-based newsletter Juristes Associés also revealed that French law firms are growing rapidly, with 29 per cent housing between 51 and 100 fee-earners, compared with 25 per cent last year. It also reiterated the importance of the big five accountancy-tied firms, which it claimed accounted for 56 per cent of fee-earners. And globalisation was key, with 73 per cent of French firms having a global affiliation or network, compared with only 59 per cent last year.
Top 15 law firms in France (by number of fee-earners)