The Lawyer’s new China Elite report contains the most detailed research available on the PRC legal market and contains unparalleled insight into the country's leading law firms. They vary in size, practice focus and geographic coverage, but they all share one common quality – ambition... Read more
This year, The Lawyer’s annual ranking of the largest UK law firms by turnover is available as an interactive, digital benchmarking tool. For the first time this will allow you to manipulate each data set against the metrics of your choice.
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.