The Lawyer’s newest product is the most comprehensive overview of the Asia-Pacific legal market yet produced. With rankings of the top 100 local law firms by lawyer headcount as well as analysis of the leading 50 international players in the region, it is essential reading for anyone interested in the strategic future of the world’s fastest growing legal market
Linklaters has emerged as the top corporate practice by turnover for the second year in a row.
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.
Top 10 corporate UK firms
Global corporate turnover (£m)
% of total turnover
No of corporate partners
Rev per corporate partner (£m)
Allen & Overy*
Slaughter and May
Simmons & Simmons*
Source: The Lawyer * Includes commercial ** Includes non-contentious antitrust