The Lawyer Africa Elite 2014 features an in-depth look at 46 leading independent firms’ strategies in 15 key sub-Saharan jurisdictions, as well as the views of in-house counsel from some of Africa’s largest companies... 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.
The City base of White & Case has a reported a 6.5 per cent fall in revenue - down from $197 to $184m - and has said it will not be releasing its profit per equity partner (PEP) figure.
Revenue per lawyer was up 4.6 per cent from $778,000 in 2009 to £814,000 in 2010, but the firm said it will not divulge PEP for London this year, or in the future.
A statement from the firm said: “PEP in London was strong but, as a global law firm, the figure that matters is the global PEP and a specific London figure is not being provided this year or in future.”
The firm also claimed that, in real currency terms, London revenue saw a 3 per cent drop. London executive partner Oliver Brettle said: “Given the bumpy economic situation during 2010, we believe that a 5 per cent revenue swing in either direction for any law firm, especially for a global law firm with an extensive finance and corporate practice, would be an acceptable result.
“With about half of the decline in London revenue due to foreign exchange impact, a 3 per cent decline in London office revenues in real terms is likewise acceptable.”
He added: “The London focus in 2010 was on continuing to improve the utilisation of our lawyers and investing in core practice areas for our clients. I’m pleased on both counts, with a near 5 per cent increase in our revenue per lawyer for London and the substantial build out of our partner and associate base, both through internal promotions and major new hires.”