The Lawyer Global Litigation Top 50 report is the only ranking of international law firms by litigation and arbitration revenue and is essential reading for anyone seeking to benchmark their litigation and dispute resolution practices...
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.
For starters, the magic circle has been engaged in a hearty game of musical chairs. Linklaters retains the crown with an estimated corporate turnover of £466.1m (just 0.3 per cent more than its total in 2011/12). But Freshfields Bruckhaus Deringer has managed to dislodge Clifford Chance and Allen & Overy from their seats to secure second position with an estimated £415.1m corporate revenue – 10.4 per cent more than last year’s £375.9m.
The other end of the table is equally telling. SJ Berwin remains in fifteenth spot with a corporate turnover of £64.6m, despite a 5.6 per cent rise in transactional revenue from last year. Above it, Taylor Wessing and Clyde & Co have managed to bump mid-market stalwarts Berwin Leighton Paisner and Simmons & Simmons out of the table altogether.
Clydes, along with DLA Piper and Herbert Smith Freehills, is becoming a much bigger player in the corporate market. Corporate revenue at Clydes rose by 33.4 per cent, helped a little by revenues from its 2011 merger partner Barlow Lyde & Gilbert (BLG). There was a similar rise at DLA and an increase of 52.5 per cent for Herbies following its Australian tie-up.
We recommend keeping a close eye on Clydes. Once an insurance powerhouse, this growing firm just recorded its first full-year figures since its November 2011 merger with BLG. The firm is dead set on growing its corporate offering in coming years. So far, it seems, so good.