Linklaters spends second year as corporate top dog

Linklaters spends second year as corporate top dog" />As first reported in Lawyer News Weekly last Wednesday (3 August), global revenue at the magic circle firm's corporate group, led by David Barnes, jumped by 11.8 per cent from £288m to £322m in 2004-05.

Meanwhile, Freshfields Bruckhaus Deringer and Lovells were the only two firms in the top 10 to post a drop in corporate revenue in the last financial year. Freshfields' global corporate turnover slumped by £7m to £258m, putting it in joint second place with magic circle rival Allen & Overy (A&O).

A&O's corporate practice, which recorded a net loss of £10m in 2003-04, rebounded to post a 7 per cent hike in billings. Indeed, during the course of the last financial year, the magic circle firm landed a handful of corporate mandates, including advising US sports tycoon Malcolm Glazer on his successful bid for Manchester United Football Club.

Lovells' global corporate turnover dipped by 5 per cent from £113.1m to £107m, resulting in the firm being overtaken by Herbert Smith, which reported a 17.7 per cent increase in billings to £108.6m - the biggest rise in the top 10. Lovells' drop in corporate turnover is mostly down to the firm's mainstream corporate practice, which is understood to have had a very disappointing 12 months.

Meanwhile, Slaughter and May, which posted a 14.7 per cent rise in corporate turnover, now boasts a revenue per partner (RPP) of £2.68m in corporate. That is almost £1m higher than Linklaters' RPP, which ranks in second place at £1.75m. A&O and Fresh-fields ranked third and fourth with RPP of £1.74m and £1.56m respectively.