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
US firm Morgan Lewis & Bockius has returned strong figures for 2003 with revenues and profits rising by about 13 per cent.
Turnover at the US firm has risen 13.2 per cent from $557.5m to $631.2 million. Average profits per partner are up 12.6 per cent from $720,000 per partner to $811,000.
Morgan Lewis will expect to sustain this growth in 2004 after the 50 partners and other lawyers that the firm took from Brobeck Phleger & Harrison are integrated. Of course, these hopes would be severely dented if the firm has to pay up to $20m to former lawyers and employees of Brobeck, who are claiming severance pay in a suit against Morgan Lewis.
The firm also picked up the entire Palo Alto office of Pennie & Edmonds in 2003, an addition of 25 lawyers.