K&L Gates

K&L Gates's global revenue flatlined in 2012, falling slightly from $1.062bn to $1.060bn.

However, revenues by region tell a more interesting story, with the firm posting positive results for Asia, Europe and the Middle East, but not for the Americas.

In Asia Pacific, for example, revenues grew 24.7 per cent despite headcount decreasing by 3.3 per cent across the region. Similarly revenues in Europe and the Middle East grew by 17.2 per cent in 2012, with headcount up by an average 13.4 per cent across the region’s offices — an increase that could partly be credited to the firm’s office opening in Milan.

In the Americas, however, turnover decreased by 2.5 per cent while headcount was down by an average of seven per cent. Overall, firmwide headcount dropped by 3.8 per cent.

"Lawyer productivity was generally consistent across practice disciplines year over year with the exception of intellectual property, where productivity increased by close to 10 per cent," the firm said in a statement. "Demand improved in the last few months of the year, providing a positive outlook going into 2013, although worldwide economic uncertainty suggests reason for caution."

The firm’s 100 largest clients generated 34.4 per cent of 2012 but no single client accounted for more than five per cent of firm revenues in 2012 or 2011.